Brokerages Set Nuvation Bio Inc. (NYSE:NUVB) Price Target at $10.56

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

Several brokerages have issued reports on NUVB. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Nuvation Bio in a report on Monday, October 13th. HC Wainwright upped their target price on Nuvation Bio from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Jefferies Financial Group initiated coverage on Nuvation Bio in a report on Tuesday, September 30th. They set a “buy” rating and a $10.00 target price on the stock. Royal Bank Of Canada raised their price target on Nuvation Bio from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, JMP Securities set a $10.00 price objective on Nuvation Bio in a research report on Thursday, November 20th.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dongfang Liu sold 150,000 shares of the business’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 transaction, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $140,760. This represents a 89.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 320,000 shares of company stock worth $2,050,800. 29.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in Nuvation Bio by 472.8% during the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock worth $2,500,000 after buying an additional 557,656 shares during the period. Swiss Life Asset Management Ltd purchased a new stake in Nuvation Bio in the 3rd quarter valued at about $39,000. CIBC Bancorp USA Inc. acquired a new position in shares of Nuvation Bio during the 3rd quarter valued at about $98,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Nuvation Bio by 811.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 39,950 shares of the company’s stock worth $148,000 after acquiring an additional 35,568 shares during the period. Finally, Connective Capital Management LLC acquired a new stake in shares of Nuvation Bio in the third quarter worth approximately $369,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Trading Down 4.2%

Shares of NUVB stock opened at $8.59 on Monday. The stock has a market cap of $2.94 billion, a P/E ratio of -13.41 and a beta of 1.54. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $9.75. The business has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $4.37.

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