Analysts Set Nuvation Bio Inc. (NYSE:NUVB) PT at $12.38

Nuvation Bio Inc. (NYSE:NUVB) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $12.3750.

Several research analysts have issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Royal Bank Of Canada reduced their price objective on Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Finally, Zacks Research raised Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th.

Nuvation Bio Stock Performance

NYSE:NUVB opened at $5.79 on Friday. The company has a 50-day moving average of $5.21 and a 200-day moving average of $5.36. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -13.47 and a beta of 1.52. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. Nuvation Bio has a twelve month low of $2.18 and a twelve month high of $9.75.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. Analysts forecast that Nuvation Bio will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Mashal acquired 25,000 shares of Nuvation Bio stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $4.73 per share, with a total value of $118,250.00. Following the completion of the purchase, the director owned 225,000 shares of the company’s stock, valued at $1,064,250. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stacy Markel sold 125,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total transaction of $753,750.00. Following the sale, the insider directly owned 32,591 shares of the company’s stock, valued at $196,523.73. This represents a 79.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 235,668 shares of company stock worth $1,419,495 in the last quarter. 30.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nuvation Bio

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Nuvation Bio by 852.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock worth $24,270,000 after purchasing an additional 2,424,109 shares during the period. Armistice Capital LLC raised its stake in Nuvation Bio by 359.2% during the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after purchasing an additional 1,796,000 shares during the period. Capricorn Fund Managers Ltd acquired a new stake in Nuvation Bio during the 4th quarter valued at $14,236,000. Millennium Management LLC lifted its holdings in shares of Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares in the last quarter. Finally, SymBiosis Capital Partners LLC purchased a new stake in shares of Nuvation Bio in the fourth quarter valued at $11,200,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.