Nuvation Bio Inc. (NYSE:NUVB) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Nuvation Bio Inc. (NYSE:NUVB) have been given a consensus rating of “Buy” by the five ratings firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.17.

NUVB has been the subject of a number of research analyst reports. Wall Street Zen downgraded Nuvation Bio from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Citizens Jmp assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $6.00 price objective for the company. Citigroup assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued an “outperform” rating for the company. Jones Trading assumed coverage on Nuvation Bio in a report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, HC Wainwright decreased their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 10th.

Nuvation Bio Stock Up 1.7%

Shares of NUVB opened at $2.09 on Monday. The stock has a 50 day moving average price of $2.14 and a 200 day moving average price of $2.21. The company has a market capitalization of $709.44 million, a price-to-earnings ratio of -0.89 and a beta of 1.33. Nuvation Bio has a 52-week low of $1.54 and a 52-week high of $3.97.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. Nuvation Bio had a negative return on equity of 44.14% and a negative net margin of 5,534.21%. On average, equities analysts anticipate that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Insider Activity at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the sale, the insider owned 12,000 shares in the company, valued at $30,000. This represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nuvation Bio

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Nuvation Bio by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company’s stock worth $1,379,000 after acquiring an additional 14,203 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Nuvation Bio by 39.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company’s stock worth $5,176,000 after acquiring an additional 551,968 shares in the last quarter. Arizona State Retirement System raised its position in Nuvation Bio by 47.2% in the fourth quarter. Arizona State Retirement System now owns 62,964 shares of the company’s stock worth $167,000 after acquiring an additional 20,176 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Nuvation Bio by 6.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 422,260 shares of the company’s stock worth $1,123,000 after acquiring an additional 25,524 shares in the last quarter. Finally, Swiss National Bank raised its position in Nuvation Bio by 47.1% in the fourth quarter. Swiss National Bank now owns 426,700 shares of the company’s stock worth $1,135,000 after acquiring an additional 136,600 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.