Nuvation Bio (NYSE:NUVB) Trading Down 5.6% - Should You Sell?

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report)'s share price fell 5.6% on Tuesday . The stock traded as low as $2.51 and last traded at $2.52. 323,324 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 3,057,700 shares. The stock had previously closed at $2.67.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of recent research reports. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Nuvation Bio in a research note on Monday, January 6th. Wedbush reaffirmed an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Monday, January 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio presently has a consensus rating of "Buy" and an average price target of $7.40.

Nuvation Bio Stock Down 2.6 %

The firm has a market capitalization of $875.07 million, a price-to-earnings ratio of -1.20 and a beta of 1.47. The company has a fifty day moving average price of $2.77 and a two-hundred day moving average price of $2.82.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $0.73 million for the quarter. On average, equities analysts anticipate that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Zacks Investment Management lifted its stake in shares of Nuvation Bio by 21.5% in the third quarter. Zacks Investment Management now owns 36,125 shares of the company's stock worth $83,000 after acquiring an additional 6,394 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Nuvation Bio by 58.7% in the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company's stock valued at $76,000 after purchasing an additional 9,603 shares in the last quarter. EverSource Wealth Advisors LLC grew its position 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 worth $32,000 after buying an additional 10,000 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nuvation Bio in the second quarter worth $29,000. Finally, Xponance Inc. acquired a new stake in Nuvation Bio in the second quarter valued at $33,000. Hedge funds and other institutional investors own 61.67% of the company's stock.

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.