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

Nuvation Bio Inc. (NYSE:NUVB) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.00.

Several equities research analysts have recently commented on NUVB shares. Truist Financial upped their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada raised their price objective on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Zacks Research upgraded shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Nuvation Bio in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Friday, July 17th.

Insider Activity

In related news, Director Robert Mashal bought 25,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the completion of the transaction, the director owned 225,000 shares of the company’s stock, valued at approximately $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total value of $709,000.00. Following the sale, the insider directly owned 100,000 shares of the company’s stock, valued at $709,000. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Company insiders own 30.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Nuvation Bio by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after buying an additional 4,608 shares in the last quarter. Millennium Management LLC grew its stake in shares of Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after acquiring an additional 1,298,131 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Nuvation Bio in the 2nd quarter worth approximately $92,000. Creative Planning increased its holdings in Nuvation Bio by 267.1% in the 2nd quarter. Creative Planning now owns 39,288 shares of the company’s stock worth $77,000 after acquiring an additional 28,585 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in Nuvation Bio during the 2nd quarter worth approximately $29,000. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NUVB opened at $6.79 on Friday. The firm has a market capitalization of $2.38 billion, a P/E ratio of -15.43 and a beta of 1.52. 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 has a one year low of $2.99 and a one year high of $9.75. The business has a fifty day moving average of $6.35 and a 200 day moving average of $5.39.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm 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, sell-side analysts anticipate that Nuvation Bio will post -0.34 EPS for the current 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.