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

Nuvation Bio Inc. (NYSE:NUVB) has been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $13.00.

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial increased their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. HC Wainwright raised their price target on shares of Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. B. Riley Financial restated a “buy” rating on shares of Nuvation Bio in a research note on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Thursday, July 23rd.

Nuvation Bio Stock Down 0.5%

NUVB stock opened at $6.57 on Tuesday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -14.93 and a beta of 1.52. The company has a 50-day moving average of $5.79 and a two-hundred day moving average of $5.24. Nuvation Bio has a 52-week low of $2.18 and a 52-week high of $9.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data 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). The business had revenue of $31.69 million during the quarter, compared to the consensus estimate of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. As a group, equities research analysts anticipate that Nuvation Bio will post -0.38 EPS for the current year.

Insider Buying and Selling

In other Nuvation Bio news, insider Kerry Wentworth sold 63,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total value of $379,260.00. Following the sale, the insider directly owned 53,000 shares in the company, valued at $319,060. This represents a 54.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal acquired 25,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.73 per share, with a total value of $118,250.00. Following the completion of the purchase, the director directly owned 225,000 shares of the company’s stock, valued at approximately $1,064,250. This represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 235,668 shares of company stock worth $1,419,495 over the last 90 days. Corporate insiders own 30.11% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Rangeley Capital LLC acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth about $25,000. Parallel Advisors LLC lifted its holdings in Nuvation Bio by 51.9% during the 3rd 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 Nuvation Bio in the second quarter valued at about $29,000. Captrust Financial Advisors acquired a new position in Nuvation Bio in the second quarter valued at about $32,000. Finally, KBC Group NV bought a new stake in Nuvation Bio during the first quarter worth about $37,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.