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

Zacks Research downgraded shares of Nuvation Bio (NYSE:NUVB) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

NUVB has been the subject of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Truist Financial set a $13.00 price target on Nuvation Bio in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Finally, UBS Group cut their price target on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Nuvation Bio has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Nuvation Bio Price Performance

Shares of NYSE NUVB opened at $4.73 on Tuesday. Nuvation Bio has a 1-year low of $1.57 and a 1-year high of $9.75. The business has a 50-day moving average of $4.60 and a 200-day moving average of $5.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.44 and a quick ratio of 7.24. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -10.99 and a beta of 1.51.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. On average, equities analysts anticipate that Nuvation Bio will post -0.64 EPS for the current fiscal year.

Insider Activity

In other Nuvation Bio news, insider Kerry Wentworth sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $4.52, for a total transaction of $904,000.00. Following the sale, the insider owned 53,000 shares in the company, valued at $239,560. This represents a 79.05% decrease in their ownership of the stock. The sale 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 company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.02, for a total value of $251,000.00. Following the sale, the insider owned 18,000 shares in the company, valued at $90,360. The trade was a 73.53% 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 quarter, insiders sold 286,750 shares of company stock worth $1,339,118. Insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Capricorn Fund Managers Ltd bought a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $14,236,000. JPMorgan Chase & Co. grew its holdings in shares of Nuvation Bio by 472.8% during the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock valued at $2,500,000 after purchasing an additional 557,656 shares during the last quarter. Aisling Capital Management LP grew its holdings in shares of Nuvation Bio by 16.5% during the third quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock valued at $10,954,000 after purchasing an additional 419,650 shares during the last quarter. NEOS Investment Management LLC grew its holdings in shares of Nuvation Bio by 80.8% during the third quarter. NEOS Investment Management LLC now owns 252,522 shares of the company’s stock valued at $934,000 after purchasing an additional 112,874 shares during the last quarter. Finally, AMI Asset Management Corp bought a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $1,133,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Company Profile

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.