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

Nuvation Bio Inc. (NYSE:NUVB) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.6250.

NUVB has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. HC Wainwright decreased their price target on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, January 12th. Truist Financial set a $13.00 price target on Nuvation Bio in a report on Tuesday, January 27th. UBS Group cut their price objective on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research report on Thursday, April 16th.

Insider Transactions at Nuvation Bio

In other news, insider Kerry Wentworth sold 200,000 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $4.52, for a total transaction of $904,000.00. Following the transaction, the insider owned 53,000 shares of the company’s stock, valued at $239,560. This represents a 79.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the transaction, the insider directly owned 18,000 shares in the company, valued at $90,360. This trade represents a 73.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 286,750 shares of company stock worth $1,339,118 in the last three months. Insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Nuvation Bio by 51.9% during the 3rd 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. Kestra Advisory Services LLC bought a new position in shares of Nuvation Bio during the 4th quarter worth about $71,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Nuvation Bio during the 1st quarter worth about $43,000. Swiss Life Asset Management Ltd bought a new position in Nuvation Bio in the 3rd quarter valued at about $39,000. Finally, Northwest Quadrant Wealth Management LLC bought a new position in Nuvation Bio in the 3rd quarter valued at about $40,000. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock opened at $4.48 on Friday. The company has a current ratio of 6.95, a quick ratio of 6.81 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $4.72 and a two-hundred day moving average price of $5.90. Nuvation Bio has a 1-year low of $1.57 and a 1-year high of $9.75. The company has a market cap of $1.56 billion, a P/E ratio of -7.46 and a beta of 1.51.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%.The firm had revenue of $41.87 million during the quarter, compared to the consensus estimate of $36.82 million. As a group, analysts anticipate that Nuvation Bio will post -0.47 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.