Nuvation Bio (NYSE:NUVB) Now Covered by Analysts at Citigroup

Equities research analysts at Citigroup assumed coverage on shares of Nuvation Bio (NYSE:NUVB) in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 112.95% from the stock’s current price.

Several other research firms also recently issued reports on NUVB. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Cantor Fitzgerald began coverage on Nuvation Bio in a research report on Friday, August 21st. They set an “overweight” rating on the stock. Citizens Jmp reissued a “market outperform” rating and set a $10.00 target price on shares of Nuvation Bio in a research report on Wednesday, September 16th. Royal Bank Of Canada boosted their price target on Nuvation Bio from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, HC Wainwright upped their price target on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.22.

Nuvation Bio Stock Up 0.6%

NUVB opened at $5.63 on Wednesday. The business has a 50 day moving average of $6.42 and a 200-day moving average of $5.48. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -12.81 and a beta of 1.52. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. Nuvation Bio has a 1-year low of $3.31 and a 1-year high of $9.75.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%.The company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. As a group, sell-side analysts anticipate that Nuvation Bio will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the sale, the insider directly owned 100,000 shares in the company, valued at approximately $709,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Nuvation Bio

A number of large investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in shares of Nuvation Bio by 0.7% in the 2nd quarter. Tidal Investments LLC now owns 395,313 shares of the company’s stock valued at $2,245,000 after purchasing an additional 2,559 shares in the last quarter. MCF Advisors LLC acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth about $155,000. WINTON GROUP Ltd bought a new position in Nuvation Bio during the 2nd quarter valued at about $110,000. NewEdge Advisors LLC boosted its position in Nuvation Bio by 19.5% in the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock valued at $6,996,000 after buying an additional 200,621 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Nuvation Bio by 31.4% during the second quarter. Squarepoint Ops LLC now owns 164,211 shares of the company’s stock worth $933,000 after buying an additional 39,267 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors.

About Nuvation Bio

Nuvation Bio Inc is a biopharmaceutical company focused on discovering and developing medicines for patients with cancer. The company applies drug discovery, translational research and clinical development capabilities to pursue therapies for cancers with significant unmet medical needs.

Nuvation Bio’s pipeline has included investigational small-molecule oncology therapies, including NUV-422, a cyclin-dependent kinase inhibitor designed to target pathways involved in cancer cell growth.