Nuvation Bio (NYSE:NUVB) Hits New 52-Week Low Following Analyst Downgrade

Nuvation Bio Inc. (NYSE:NUVB)’s share price reached a new 52-week low during mid-day trading on Friday after Royal Bank Of Canada lowered their price target on the stock from $20.00 to $17.00. Royal Bank Of Canada currently has an outperform rating on the stock. Nuvation Bio traded as low as $3.98 and last traded at $4.0880, with a volume of 637,149 shares trading hands. The stock had previously closed at $4.19.

Several other research analysts have also issued reports on NUVB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, October 15th. JPMorgan Chase & Co. started coverage on shares of Nuvation Bio in a research note on Tuesday, August 18th. They set an “overweight” rating and a $13.00 price target for the company. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a report on Monday, October 19th. Cantor Fitzgerald began coverage on shares of Nuvation Bio in a research note on Friday, August 21st. They issued an “overweight” rating on the stock. Finally, Wall Street Zen cut shares of Nuvation Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 10th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Moderate Buy” and an average price target of $12.89.

Insider Buying and Selling at Nuvation Bio

In related news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the completion of the transaction, the insider directly owned 100,000 shares in the company, valued at approximately $709,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NUVB. Bank of New York Mellon Corp acquired a new position in shares of Nuvation Bio in the second quarter valued at approximately $3,804,000. Arrowstreet Capital Limited Partnership increased its position in shares of Nuvation Bio by 75.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock worth $6,175,000 after acquiring an additional 619,725 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Nuvation Bio during the first quarter worth $2,399,000. Torray Investment Partners LLC bought a new stake in shares of Nuvation Bio during the third quarter worth $1,539,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Nuvation Bio by 19.5% during the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock worth $6,996,000 after acquiring an additional 200,621 shares during the period. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Trading Down 2.3%

The company has a quick ratio of 8.14, a current ratio of 8.37 and a debt-to-equity ratio of 0.96. The business’s fifty day moving average is $5.44 and its 200 day moving average is $5.38. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -10.24 and a beta of 1.73.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $44.95 million for the quarter, compared to analysts’ expectations of $34.39 million. Nuvation Bio had a negative net margin of 67.38% and a negative return on equity of 43.15%. Equities analysts predict that Nuvation Bio Inc. will post -0.34 earnings per share for the current year.

Nuvation Bio Company Profile

Nuvation Bio, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with cancer. The company seeks to address areas of significant unmet need, with an emphasis on targeted therapies for solid tumors.

Nuvation Bio’s lead product is taletrectinib, a next-generation tyrosine kinase inhibitor designed for patients with ROS1-positive non-small cell lung cancer (NSCLC), including certain tumors that have developed resistance to earlier ROS1-targeted treatments.