Nuvation Bio Inc. (NYSE:NUVB – Get Free Report)’s stock price traded up 11% on Monday . The company traded as high as $6.26 and last traded at $6.4360. 1,306,746 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 5,440,677 shares. The stock had previously closed at $5.80.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Zacks Research raised Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Royal Bank Of Canada reduced their price objective on Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.38.
Check Out Our Latest Stock Report on NUVB
Nuvation Bio Stock Performance
Nuvation Bio (NYSE:NUVB – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. As a group, equities research analysts forecast that Nuvation Bio Inc. will post -0.39 EPS for the current year.
Insider Activity
In other news, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the sale, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at $76,164.73. This represents a 79.00% decrease in their position. The transaction was disclosed in a legal 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 Stacy Markel sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the sale, the insider owned 32,591 shares in the company, valued at $196,523.73. This trade represents a 79.32% decrease in their ownership of the stock. 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 235,668 shares of company stock worth $1,419,495. 30.11% of the stock is currently owned by insiders.
Institutional Trading of Nuvation Bio
Several institutional investors have recently bought and sold shares of the business. Rangeley Capital LLC acquired a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC increased its holdings in Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Nuvation Bio in the 2nd quarter worth $29,000. Captrust Financial Advisors acquired a new position in Nuvation Bio during the second quarter worth $32,000. Finally, KBC Group NV acquired a new position in Nuvation Bio during the first quarter worth $37,000. 61.67% of the stock is owned by institutional investors and hedge funds.
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.
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