Nuvation Bio Inc. (NYSE:NUVB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $12.3750.

Several equities analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Royal Bank Of Canada decreased their price objective on Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Finally, Truist Financial lifted their target price on Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal acquired 25,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the purchase, the director directly owned 225,000 shares of the company’s stock, valued at $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Philippe Sauvage sold 47,668 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the completion of the sale, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at $76,164.73. This represents a 79.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 235,668 shares of company stock worth $1,419,495 over the last quarter. Company insiders own 30.11% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nuvation Bio by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock worth $191,000 after acquiring an additional 4,608 shares during the period. Millennium Management LLC lifted its position in shares of Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after acquiring an additional 1,298,131 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth $92,000. Creative Planning grew its holdings in shares of Nuvation Bio by 267.1% during the 2nd quarter. Creative Planning now owns 39,288 shares of the company’s stock worth $77,000 after purchasing an additional 28,585 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Nuvation Bio in the second quarter worth $29,000. 61.67% of the stock is currently owned by institutional investors.

Nuvation Bio Stock Performance

NYSE NUVB opened at $5.64 on Friday. The firm has a 50-day moving average of $5.19 and a 200-day moving average of $5.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. The stock has a market cap of $1.97 billion, a PE ratio of -13.13 and a beta of 1.52. Nuvation Bio has a 52-week low of $2.18 and a 52-week high of $9.75.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. On average, sell-side analysts anticipate that Nuvation Bio will post -0.39 EPS for the current year.

About Nuvation Bio

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.