Nuvation Bio (NYSE:NUVB) Trading Down 8.3% – Should You Sell?

Shares of Nuvation Bio Inc. (NYSE:NUVB) were down 8.3% during trading on Wednesday . The company traded as low as $2.94 and last traded at $2.98. Approximately 2,037,923 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 3,329,388 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

A number of research analysts have issued reports on NUVB shares. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Nuvation Bio in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Monday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $7.40.

Nuvation Bio Stock Down 7.7 %

The company’s fifty day simple moving average is $2.72 and its two-hundred day simple moving average is $2.82. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.38 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. Equities research analysts expect that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Nuvation Bio

Large investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. bought a new stake in Nuvation Bio in the 2nd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after purchasing an additional 10,000 shares during the last quarter. Xponance Inc. bought a new stake in shares of Nuvation Bio in the second quarter worth $33,000. Caxton Associates LP acquired a new position in Nuvation Bio during the second quarter worth $43,000. Finally, Choreo LLC bought a new position in Nuvation Bio in the second quarter valued at $47,000. 61.67% of the stock is owned by institutional investors.

About Nuvation Bio

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.