Nuvation Bio (NYSE:NUVB) Trading Down 5.4% - Time to Sell?

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) dropped 5.4% during trading on Thursday . The company traded as low as $2.09 and last traded at $2.09. Approximately 199,091 shares were traded during trading, a decline of 86% from the average daily volume of 1,415,609 shares. The stock had previously closed at $2.21.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Wedbush restated an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a report on Wednesday, September 11th. Finally, HC Wainwright decreased their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, September 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $6.40.

Nuvation Bio Stock Down 9.0 %

The business has a fifty day moving average of $2.82 and a 200 day moving average of $3.02. The firm has a market cap of $496.81 million, a P/E ratio of -6.77 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.09). The company had revenue of $1.44 million during the quarter. Research analysts expect that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Institutional Trading of Nuvation Bio

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