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

Nuvation Bio Inc. (NYSE:NUVB) has received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.50.

Several research firms recently issued reports on NUVB. UBS Group reduced their price target on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Zacks Research downgraded shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th.

Nuvation Bio Trading Up 0.7%

NUVB opened at $4.73 on Thursday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -10.99 and a beta of 1.51. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. Nuvation Bio has a twelve month low of $1.57 and a twelve month high of $9.75. The company has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $5.93.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. Analysts predict that Nuvation Bio will post -0.64 EPS for the current fiscal year.

Insider Activity

In other news, insider Dongfang Liu sold 50,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.02, for a total value of $251,000.00. Following the completion of the transaction, the insider owned 18,000 shares of the company’s stock, valued at approximately $90,360. This represents a 73.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 36,750 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.01, for a total transaction of $184,117.50. Following the completion of the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at $265,530. This trade represents a 40.95% 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. Insiders sold 286,750 shares of company stock worth $1,339,118 over the last ninety days. 30.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors have recently added to or reduced their stakes in NUVB. Parallel Advisors LLC lifted its stake in Nuvation Bio by 51.9% in 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. Kestra Advisory Services LLC bought a new stake in shares of Nuvation Bio during the fourth quarter worth $71,000. KBC Group NV acquired a new position in shares of Nuvation Bio during the first quarter worth $37,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Nuvation Bio during the first quarter worth $43,000. Finally, Swiss Life Asset Management Ltd bought a new position in shares of Nuvation Bio in the 3rd quarter valued at $39,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.