Nuvation Bio (NYSE:NUVB) Lowered to “Strong Sell” Rating by Zacks Research

Nuvation Bio (NYSE:NUVB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Truist Financial set a $13.00 price objective on Nuvation Bio in a report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nuvation Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Nuvation Bio Trading Up 0.7%

NUVB opened at $4.73 on Tuesday. Nuvation Bio has a one year low of $1.57 and a one year high of $9.75. The company has a market cap of $1.65 billion, a P/E ratio of -10.99 and a beta of 1.51. 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 business’s 50-day simple moving average is $4.60 and its 200-day simple moving average is $5.93.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The business had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. As a group, equities research analysts expect that Nuvation Bio will post -0.64 EPS for the current fiscal year.

Insider Transactions at Nuvation Bio

In related news, insider Kerry Wentworth sold 200,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $4.52, for a total transaction of $904,000.00. Following the transaction, the insider owned 53,000 shares of the company’s stock, valued at $239,560. This trade represents a 79.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the transaction, the insider directly owned 18,000 shares in the company, valued at approximately $90,360. This represents a 73.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 286,750 shares of company stock worth $1,339,118. Corporate insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in NUVB. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio during the second quarter worth about $25,000. Parallel Advisors LLC grew its holdings in shares of Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Nuvation Bio during the second quarter worth about $29,000. Captrust Financial Advisors acquired a new stake in Nuvation Bio in the second quarter valued at about $32,000. Finally, KBC Group NV acquired a new stake in Nuvation Bio in the first quarter valued at about $37,000. 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.