Nuvation Bio Inc. (NYSE:NUVB) Receives $12.50 Average Target Price from Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have received a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.50.

Several analysts recently issued reports on NUVB shares. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. UBS Group lowered their price target on 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, Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th.

Insider Activity

In other Nuvation Bio news, CFO Philippe Sauvage sold 47,668 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total transaction of $286,484.68. Following the transaction, the chief financial officer owned 12,673 shares of the company’s stock, valued at $76,164.73. The trade was a 79.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the transaction, the insider directly owned 18,000 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 522,418 shares of company stock valued at $2,758,612. 30.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors have recently bought and sold shares of the business. Rangeley Capital LLC acquired a new position in shares of Nuvation Bio in the second quarter valued at approximately $25,000. Parallel Advisors LLC grew 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 valued at $28,000 after purchasing an additional 2,597 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Nuvation Bio in the second quarter valued at approximately $29,000. Captrust Financial Advisors acquired a new position in shares of Nuvation Bio in the second quarter valued at approximately $32,000. Finally, KBC Group NV acquired a new position in shares of Nuvation Bio in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

NUVB opened at $5.61 on Monday. Nuvation Bio has a 52-week low of $1.87 and a 52-week high of $9.75. The firm has a market capitalization of $1.95 billion, a PE ratio of -13.03 and a beta of 1.52. 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 business’s 50-day simple moving average is $4.94 and its 200 day simple moving average is $5.72.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The business had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. As a group, sell-side analysts expect that Nuvation Bio will post -0.39 earnings per share for the current fiscal 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.