Nuvation Bio Inc. (NYSE:NUVB) Receives $10.56 Consensus Price Target from Brokerages

Nuvation Bio Inc. (NYSE:NUVB) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.5556.

Several research firms have issued reports on NUVB. Truist Financial set a $11.00 price target on Nuvation Bio in a report on Monday, November 24th. Citizens Jmp upped their target price on Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Thursday, November 20th. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. HC Wainwright raised their target price on shares of Nuvation Bio from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, B. Riley initiated coverage on shares of Nuvation Bio in a research report on Wednesday, November 19th. They issued a “buy” rating and a $12.00 target price on the stock.

Insider Buying and Selling at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dongfang Liu sold 150,000 shares of Nuvation Bio stock in a transaction on Monday, December 1st. The shares were sold at an average price of $7.82, for a total value of $1,173,000.00. Following the transaction, the insider owned 18,000 shares in the company, valued at $140,760. This represents a 89.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 320,000 shares of company stock worth $2,050,800. Company insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Swiss Life Asset Management Ltd purchased a new stake in shares of Nuvation Bio in the third quarter worth approximately $39,000. CIBC Bancorp USA Inc. acquired a new position in Nuvation Bio in the 3rd quarter valued at approximately $98,000. Caitong International Asset Management Co. Ltd increased its stake in Nuvation Bio by 811.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 39,950 shares of the company’s stock valued at $148,000 after buying an additional 35,568 shares during the period. Connective Capital Management LLC purchased a new stake in Nuvation Bio in the 3rd quarter worth approximately $369,000. Finally, Armistice Capital LLC lifted its position in Nuvation Bio by 359.2% in the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock worth $8,495,000 after buying an additional 1,796,000 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Price Performance

Shares of NYSE NUVB opened at $8.96 on Monday. Nuvation Bio has a twelve month low of $1.54 and a twelve month high of $9.75. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -14.00 and a beta of 1.58. The firm has a 50-day moving average of $7.08 and a two-hundred day moving average of $4.29.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The company had revenue of $13.12 million for the quarter, compared to analysts’ expectations of $7.48 million. As a group, analysts expect that Nuvation Bio will post -0.36 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.