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

Nuvation Bio Inc. (NYSE:NUVB) was the target of some unusual options trading on Wednesday. Investors acquired 44,799 call options on the stock. This is an increase of approximately 1,415% compared to the average daily volume of 2,957 call options.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NUVB. JMP Securities set a $10.00 price target on shares of Nuvation Bio in a research report on Thursday, November 20th. Truist Financial set a $11.00 price objective on Nuvation Bio in a research note on Monday, November 24th. HC Wainwright boosted their target price on Nuvation Bio from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Royal Bank Of Canada upped their target price on Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, B. Riley started coverage on Nuvation Bio in a research report on Wednesday, November 19th. They issued a “buy” rating and a $12.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.56.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $8.52 on Thursday. The company’s fifty day moving average is $5.98 and its two-hundred day moving average is $3.81. The company has a market cap of $2.92 billion, a P/E ratio of -13.30 and a beta of 1.58. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $8.95. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.The business had revenue of $13.12 million during the quarter, compared to analysts’ expectations of $7.48 million. Equities analysts expect that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 150,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $7.82, for a total value of $1,173,000.00. Following the sale, the insider directly owned 18,000 shares in the company, valued at approximately $140,760. The trade was a 89.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 320,000 shares of company stock worth $2,050,800. 29.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors have recently bought and sold shares of the business. Swiss Life Asset Management Ltd acquired a new position in shares of Nuvation Bio in the 3rd quarter valued at about $39,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Nuvation Bio during the third quarter worth approximately $98,000. Caitong International Asset Management Co. Ltd grew its position in Nuvation Bio by 811.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 39,950 shares of the company’s stock valued at $148,000 after purchasing an additional 35,568 shares in the last quarter. Connective Capital Management LLC acquired a new position in Nuvation Bio in the 3rd quarter valued at approximately $369,000. Finally, Armistice Capital LLC increased its stake in Nuvation Bio by 359.2% in the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after buying an additional 1,796,000 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.