Nuvation Bio (NYSE:NUVB) Reaches New 12-Month High – Still a Buy?

Nuvation Bio Inc. (NYSE:NUVB) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.59 and last traded at $7.5850, with a volume of 1656299 shares trading hands. The stock had previously closed at $7.41.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NUVB. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Nuvation Bio in a research report on Friday, September 19th. Truist Financial set a $11.00 price target on Nuvation Bio in a research note on Monday. B. Riley began 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. Wall Street Zen raised Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, Jefferies Financial Group began coverage on shares of Nuvation Bio in a research report on Tuesday, September 30th. They set a “buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nuvation Bio currently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

Nuvation Bio Stock Performance

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 stock has a fifty day moving average price of $4.35 and a 200-day moving average price of $3.10. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -11.99 and a beta of 1.50.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $13.12 million during the quarter, compared to the consensus estimate of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%. On average, analysts expect that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other news, insider Dongfang Liu sold 15,000 shares of Nuvation Bio stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $5.10, for a total value of $76,500.00. Following the sale, the insider owned 18,000 shares of the company’s stock, valued at $91,800. The trade was a 45.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was 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. Insiders sold a total of 160,000 shares of company stock valued at $797,800 in the last 90 days. Company insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in Nuvation Bio by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after acquiring an additional 2,597 shares during the period. LCM Capital Management Inc increased its position in Nuvation Bio by 29.2% during the 3rd quarter. LCM Capital Management Inc now owns 15,500 shares of the company’s stock worth $57,000 after purchasing an additional 3,500 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Nuvation Bio by 38.8% during the 3rd quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock worth $58,000 after purchasing an additional 4,400 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Nuvation Bio by 21.9% during the third quarter. Integrated Wealth Concepts LLC now owns 24,610 shares of the company’s stock worth $91,000 after buying an additional 4,419 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Nuvation Bio by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after buying an additional 4,608 shares during the period. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

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.