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

Nuvation Bio Inc. (NYSE:NUVB) has earned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $13.22.

Several research analysts have recently commented on the company. Citigroup initiated coverage on Nuvation Bio in a research note on Wednesday, September 30th. They set a “buy” rating and a $12.00 target price for the company. Truist Financial raised their price target on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Royal Bank Of Canada lifted their price objective on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Cantor Fitzgerald assumed coverage on shares of Nuvation Bio in a report on Friday, August 21st. They issued an “overweight” rating on the stock. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $10.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 16th.

Nuvation Bio Trading Down 1.7%

Shares of NYSE:NUVB opened at $4.86 on Wednesday. Nuvation Bio has a 52-week low of $3.36 and a 52-week high of $9.75. The company has a market capitalization of $1.71 billion, a P/E ratio of -11.05 and a beta of 1.61. The company has a 50-day simple moving average of $6.29 and a 200 day simple moving average of $5.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37.

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

Insider Activity at Nuvation Bio

In related news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total transaction of $709,000.00. Following the completion of the sale, the insider owned 100,000 shares of the company’s stock, valued at approximately $709,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 30.11% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

Several hedge funds have recently bought and sold shares of NUVB. Tema ETFs LLC raised its position in shares of Nuvation Bio by 0.7% in the second quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock valued at $2,245,000 after buying an additional 2,559 shares in the last quarter. Tidal Investments LLC increased its stake in Nuvation Bio by 0.7% during the 2nd quarter. Tidal Investments LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after acquiring an additional 2,559 shares during the period. Revisor Wealth Management LLC increased its stake in Nuvation Bio by 40.3% during the 1st quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company’s stock worth $79,000 after acquiring an additional 5,317 shares during the period. Arizona State Retirement System raised its holdings in Nuvation Bio by 9.9% in the 2nd quarter. Arizona State Retirement System now owns 66,946 shares of the company’s stock valued at $380,000 after acquiring an additional 6,015 shares in the last quarter. Finally, KBC Group NV acquired a new position in Nuvation Bio in the 1st quarter valued at $37,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

About Nuvation Bio

Nuvation Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses small-molecule drug discovery and development approaches to pursue therapies intended to address difficult-to-treat tumors and areas of significant unmet medical need.

Nuvation Bio’s pipeline has included NUV-868, an oral investigational inhibitor of DYRK1A being studied in solid tumors, and NUV-1511, an investigational oncology drug designed to interfere with cancer-cell DNA damage response mechanisms.