Nuvation Bio Inc. (NYSE:NUVB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.5556.

A number of equities research analysts recently issued reports on NUVB shares. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Tuesday, November 4th. Royal Bank Of Canada lifted their target price on shares of Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Jefferies Financial Group started coverage on shares of Nuvation Bio in a research note on Tuesday, September 30th. They set a “buy” rating and a $10.00 target price for the company. HC Wainwright raised their price target on shares of Nuvation Bio from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, B. Riley began coverage on Nuvation Bio in a report on Wednesday, November 19th. They issued a “buy” rating and a $12.00 price objective on the stock.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock opened at $9.44 on Monday. The firm has a market cap of $3.23 billion, a PE ratio of -14.74 and a beta of 1.57. Nuvation Bio has a twelve month low of $1.54 and a twelve month high of $9.75. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $6.78 and a 200 day moving average price of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. The company had revenue of $13.12 million for the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%. Sell-side analysts predict that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In related news, insider Dongfang Liu sold 150,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $7.82, for a total transaction of $1,173,000.00. Following the completion of the transaction, the insider directly owned 18,000 shares in the company, valued at $140,760. This trade represents a 89.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 320,000 shares of company stock valued at $2,050,800. 29.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the business. Exome Asset Management LLC purchased a new position in Nuvation Bio in the first quarter worth approximately $170,000. American Century Companies Inc. lifted its position in shares of Nuvation Bio by 18.3% during the 1st quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock worth $856,000 after purchasing an additional 75,362 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Nuvation Bio during the second quarter worth $207,000. AWM Investment Company Inc. purchased a new position in Nuvation Bio in the first quarter valued at $1,144,000. Finally, Tema Etfs LLC acquired a new stake in Nuvation Bio in the second quarter valued at $272,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.