Analysts Set Nuvation Bio Inc. (NYSE:NUVB) PT at $10.80

Nuvation Bio Inc. (NYSE:NUVB) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $10.80.

Several equities analysts have recently issued reports on NUVB shares. UBS Group initiated coverage on Nuvation Bio in a research note on Wednesday, January 7th. They set a “neutral” rating and a $10.00 target price on the stock. Truist Financial set a $11.00 price target on shares of Nuvation Bio in a report on Monday, November 24th. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. Royal Bank Of Canada raised their target price on shares of Nuvation Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, B. Riley started coverage on shares of Nuvation Bio in a research note on Wednesday, November 19th. They set a “buy” rating and a $12.00 target price on the stock.

Insider Buying and Selling at Nuvation Bio

In other news, insider Dongfang Liu sold 150,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the completion of the transaction, the insider owned 18,000 shares of the company’s stock, valued at approximately $140,760. This represents a 89.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 220,000 shares of company stock worth $1,548,800. 29.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after buying an additional 2,597 shares during the period. Swiss Life Asset Management Ltd bought a new position in shares of Nuvation Bio in the 3rd quarter worth about $39,000. Northwest Quadrant Wealth Management LLC purchased a new position in Nuvation Bio during the 3rd quarter valued at about $40,000. HBK Sorce Advisory LLC bought a new stake in Nuvation Bio during the third quarter worth about $42,000. Finally, Federated Hermes Inc. grew its holdings in Nuvation Bio by 75.9% in the third quarter. Federated Hermes Inc. now owns 11,630 shares of the company’s stock worth $43,000 after purchasing an additional 5,020 shares during the period. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $5.57 on Friday. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $7.82 and a 200-day moving average price of $4.92. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -8.70 and a beta of 1.54. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $9.75.

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

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.