Nuvation Bio Inc. (NYSE:NUVB) Receives $11.50 Average Target Price from Brokerages

Nuvation Bio Inc. (NYSE:NUVB) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.6667.

A number of research analysts have commented on NUVB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. B. Riley Financial initiated coverage on Nuvation Bio in a research report on Wednesday, November 19th. They set a “buy” rating and a $12.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a research report on Tuesday, February 10th. Truist Financial set a $13.00 price target on shares of Nuvation Bio in a report on Tuesday, January 27th. Finally, HC Wainwright dropped their price target on shares of Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, January 12th.

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $5.48 on Tuesday. 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 market cap of $1.88 billion, a PE ratio of -8.55 and a beta of 1.51. The company’s fifty day simple moving average is $7.10 and its 200-day simple moving average is $5.32. Nuvation Bio has a 52 week low of $1.54 and a 52 week high of $9.75.

Insider Activity at Nuvation Bio

In other news, insider Dongfang Liu sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $7.82, for a total transaction of $1,173,000.00. Following the completion of the sale, the insider owned 18,000 shares of the company’s stock, valued at approximately $140,760. This trade represents a 89.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Nuvation Bio in the fourth quarter worth about $71,000. Swiss Life Asset Management Ltd bought a new stake in Nuvation Bio in the third quarter valued at about $39,000. Northwest Quadrant Wealth Management LLC bought a new stake in Nuvation Bio in the third quarter valued at about $40,000. Finally, HBK Sorce Advisory LLC acquired a new stake in Nuvation Bio during the third quarter valued at approximately $42,000. 61.67% of the stock is 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.