Nuvation Bio (NYSE:NUVB) Shares Up 13.3% – Should You Buy?

Shares of Nuvation Bio Inc. (NYSE:NUVB) were up 13.3% during trading on Thursday . The company traded as high as $5.24 and last traded at $5.3470. Approximately 1,467,059 shares traded hands during trading, a decline of 69% from the average daily volume of 4,753,150 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NUVB shares. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Finally, Zacks Research downgraded Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Nuvation Bio Stock Performance

The company has a market cap of $1.84 billion, a PE ratio of -12.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. The firm’s 50 day moving average is $4.65 and its 200-day moving average is $5.93.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. The company had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $66.22 million. On average, research analysts anticipate that Nuvation Bio Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dongfang Liu sold 50,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the sale, the insider owned 18,000 shares of the company’s stock, valued at approximately $90,360. This represents a 73.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 36,750 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.01, for a total transaction of $184,117.50. Following the sale, the insider directly owned 53,000 shares of the company’s stock, valued at approximately $265,530. This represents a 40.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 286,750 shares of company stock valued at $1,339,118. 30.11% of the stock is owned by corporate insiders.

Institutional Trading of Nuvation Bio

Several hedge funds have recently made changes to their positions in NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Nuvation Bio by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after buying an additional 4,608 shares during the period. Millennium Management LLC grew its stake in shares of Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after buying an additional 1,298,131 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $92,000. Creative Planning grew its stake in shares of Nuvation Bio by 267.1% in the 2nd quarter. Creative Planning now owns 39,288 shares of the company’s stock valued at $77,000 after buying an additional 28,585 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.