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

Shares of Nuvation Bio Inc. (NYSE:NUVB) have received an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $13.00.

Several equities analysts have recently commented on NUVB shares. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Friday, July 17th. Truist Financial lifted their target price on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. HC Wainwright boosted their price target on Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a research note on Thursday, July 23rd.

Insiders Place Their Bets

In other news, Director Robert Mashal bought 25,000 shares of Nuvation Bio stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average cost of $4.73 per share, with a total value of $118,250.00. Following the completion of the acquisition, the director owned 225,000 shares of the company’s stock, valued at $1,064,250. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the completion of the sale, the insider directly owned 100,000 shares in the company, valued at $709,000. This trade represents a 50.00% decrease in their ownership of the stock. 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 90 days, insiders have sold 335,668 shares of company stock worth $2,128,495. 30.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP increased its stake in Nuvation Bio by 26.4% in the 2nd quarter. Corient Private Wealth LP now owns 434,873 shares of the company’s stock worth $2,470,000 after acquiring an additional 90,710 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $625,000. California State Teachers Retirement System boosted its position in shares of Nuvation Bio by 453.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,682,598 shares of the company’s stock valued at $9,557,000 after acquiring an additional 1,378,814 shares during the last quarter. Odyssean LLC boosted its position in shares of Nuvation Bio by 166.3% during the 2nd quarter. Odyssean LLC now owns 168,009 shares of the company’s stock valued at $954,000 after acquiring an additional 104,912 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Nuvation Bio in the second quarter valued at $83,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Up 0.3%

NUVB opened at $6.79 on Friday. 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 has a fifty-two week low of $2.99 and a fifty-two week high of $9.75. The firm’s fifty day moving average is $6.35 and its 200 day moving average is $5.39. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -15.43 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $31.69 million during the quarter, compared to the consensus estimate of $27.03 million. On average, sell-side analysts forecast that Nuvation Bio will post -0.34 earnings per share for the current fiscal year.

Nuvation Bio Company Profile

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.