Nuvation Bio (NYSE:NUVB) Reaches New 1-Year High – Time to Buy?

Shares of Nuvation Bio Inc. (NYSE:NUVB) reached a new 52-week high on Thursday . The company traded as high as $9.01 and last traded at $9.0450, with a volume of 3975130 shares trading hands. The stock had previously closed at $8.52.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NUVB shares. 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. HC Wainwright raised their target price on Nuvation Bio from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. Truist Financial set a $11.00 price target on Nuvation Bio in a research note on Monday, November 24th. Finally, JMP Securities set a $10.00 price objective on shares of Nuvation Bio in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.56.

Nuvation Bio Trading Up 5.8%

The business has a 50 day simple moving average of $5.98 and a 200-day simple moving average of $3.81. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -14.08 and a beta of 1.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.The business had revenue of $13.12 million for the quarter, compared to analysts’ expectations of $7.48 million. As a group, equities analysts expect that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling at Nuvation Bio

In related news, insider Dongfang Liu sold 150,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $7.82, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total value of $502,000.00. The SEC filing for this sale provides additional information. Insiders have sold 320,000 shares of company stock valued at $2,050,800 in the last three months. 29.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Nuvation Bio during the second quarter worth about $25,000. Rangeley Capital LLC acquired a new stake in shares of Nuvation Bio in the second quarter valued at approximately $25,000. Parallel Advisors LLC lifted its position in shares of Nuvation Bio by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after purchasing an additional 2,597 shares in the last quarter. Cetera Investment Advisers acquired a new position in Nuvation Bio during the second quarter worth $29,000. Finally, Captrust Financial Advisors acquired a new position in Nuvation Bio during the second quarter worth $32,000. 61.67% of the stock is owned by institutional investors and hedge funds.

About Nuvation Bio

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.