Nuvation Bio Sees Unusually Large Options Volume (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) saw some unusual options trading on Tuesday. Investors acquired 8,120 call options on the company. This represents an increase of 212% compared to the typical volume of 2,599 call options.

Insider Buying and Selling at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors have recently modified their holdings of NUVB. Highline Wealth Partners LLC acquired a new position in shares of Nuvation Bio during the 2nd quarter worth about $25,000. Rangeley Capital LLC acquired a new position in shares of Nuvation Bio during the 2nd quarter worth about $25,000. Cetera Investment Advisers acquired a new position in shares of Nuvation Bio during the 2nd quarter worth about $29,000. Captrust Financial Advisors acquired a new position in shares of Nuvation Bio during the 2nd quarter worth about $32,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Nuvation Bio during the 2nd quarter worth about $42,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NUVB. Wall Street Zen upgraded Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. JMP Securities set a $8.00 target price on Nuvation Bio in a research note on Tuesday. Royal Bank Of Canada raised their target price on Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Nuvation Bio in a research note on Friday, September 19th. Finally, Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.57.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $4.81 on Wednesday. The stock has a market capitalization of $1.64 billion, a P/E ratio of -7.51 and a beta of 1.50. Nuvation Bio has a 1-year low of $1.54 and a 1-year high of $5.55. The company has a current ratio of 9.39, a quick ratio of 9.38 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $3.71 and a two-hundred day moving average price of $2.77.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $13.12 million during the quarter, compared to analysts’ expectations of $7.48 million. Nuvation Bio had a negative return on equity of 51.94% and a negative net margin of 813.07%. Equities analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

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.