Nuvation Bio (NYSE:NUVB) Downgraded by Wall Street Zen to Sell

by · The Cerbat Gem

Wall Street Zen lowered shares of Nuvation Bio (NYSE:NUVB – Free Report) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also issued reports on the stock. Cantor Fitzgerald started coverage on shares of Nuvation Bio in a research report on Friday, August 21st. They set an “overweight” rating on the stock. Citigroup started coverage on Nuvation Bio in a report on Wednesday, September 30th. They issued a “buy” rating and a $12.00 price target for the company. HC Wainwright increased their price target on Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Citizens Jmp restated a “market outperform” rating and set a $10.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 16th. Finally, Zacks Research raised Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Moderate Buy” and an average target price of $13.22.

View Our Latest Stock Report on Nuvation Bio

Nuvation Bio Trading Up 1.1%

Shares of NUVB stock opened at $5.00 on Friday. The firm has a 50-day moving average price of $6.19 and a 200 day moving average price of $5.51. Nuvation Bio has a twelve month low of $3.36 and a twelve month high of $9.75. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -11.38 and a beta of 1.61. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96.

Nuvation Bio (NYSE:NUVB – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. Research analysts forecast that Nuvation Bio will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total transaction of $709,000.00. Following the transaction, the insider owned 100,000 shares of the company’s stock, valued at $709,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

Institutional investors have recently made changes to their positions in the stock. Tema ETFs LLC boosted its stake in shares of Nuvation Bio by 0.7% in the second quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock valued at $2,245,000 after purchasing an additional 2,559 shares during the period. Tidal Investments LLC increased its stake in Nuvation Bio by 0.7% during the 2nd quarter. Tidal Investments LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after buying an additional 2,559 shares during the period. Revisor Wealth Management LLC lifted its holdings in Nuvation Bio by 40.3% in the 1st quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company’s stock worth $79,000 after buying an additional 5,317 shares in the last quarter. Arizona State Retirement System lifted its holdings in Nuvation Bio by 9.9% in the 2nd quarter. Arizona State Retirement System now owns 66,946 shares of the company’s stock worth $380,000 after buying an additional 6,015 shares in the last quarter. Finally, KBC Group NV purchased a new position in Nuvation Bio in the 1st quarter valued at about $37,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

(Get Free Report)

Nuvation Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses small-molecule drug discovery and development approaches to pursue therapies intended to address difficult-to-treat tumors and areas of significant unmet medical need.

Nuvation Bio’s pipeline has included NUV-868, an oral investigational inhibitor of DYRK1A being studied in solid tumors, and NUV-1511, an investigational oncology drug designed to interfere with cancer-cell DNA damage response mechanisms.

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