Nuvation Bio (NYSE:NUVB) Shares Down 3.8% – Time to Sell?

Shares of Nuvation Bio Inc. (NYSE:NUVB) were down 3.8% during trading on Friday . The stock traded as low as $2.66 and last traded at $2.67. Approximately 275,929 shares traded hands during trading, a decline of 91% from the average daily volume of 3,110,353 shares. The stock had previously closed at $2.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NUVB shares. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, January 6th. HC Wainwright boosted their price objective on Nuvation Bio from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.20.

Nuvation Bio Trading Down 9.2 %

The stock’s 50-day moving average is $2.74 and its two-hundred day moving average is $2.79. The company has a market capitalization of $846.47 million, a PE ratio of -1.16 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. On average, equities research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NUVB. B. Riley Wealth Advisors Inc. purchased a new stake in Nuvation Bio in the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its stake in shares of Nuvation Bio by 913.2% during the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after acquiring an additional 10,000 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Nuvation Bio in the second quarter valued at approximately $33,000. Caxton Associates LP bought a new position in Nuvation Bio in the second quarter worth approximately $43,000. Finally, Profund Advisors LLC purchased a new position in Nuvation Bio during the 2nd quarter worth $63,000. 61.67% of the stock is currently owned by institutional investors.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.