Nuvation Bio Inc. (NYSE:NUVB) Given Consensus Recommendation of “Buy” by Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned an average recommendation of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.83.

NUVB has been the topic of a number of recent research reports. HC Wainwright dropped their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Wall Street Zen raised shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Wednesday. Jones Trading assumed coverage on Nuvation Bio in a research report on Wednesday, March 12th. They set a “buy” rating and a $10.00 target price on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a report on Monday, June 2nd.

Nuvation Bio Stock Down 13.0%

Shares of NYSE NUVB opened at $2.20 on Thursday. The firm has a market cap of $748.58 million, a PE ratio of -1.01 and a beta of 1.37. The company’s fifty day simple moving average is $2.15 and its 200 day simple moving average is $2.32. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $3.97.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. On average, equities analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO David Hung purchased 200,000 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $1.66 per share, with a total value of $332,000.00. Following the acquisition, the chief executive officer now owns 58,481,054 shares of the company’s stock, valued at $97,078,549.64. This trade represents a 0.34% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the transaction, the insider now directly owns 12,000 shares of the company’s stock, valued at approximately $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NUVB. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Nuvation Bio during the 4th quarter valued at approximately $27,000. Forum Financial Management LP bought a new stake in Nuvation Bio during the 4th quarter valued at $29,000. Cerity Partners LLC purchased a new stake in shares of Nuvation Bio during the fourth quarter worth $31,000. Russell Investments Group Ltd. lifted its position in shares of Nuvation Bio by 15,183.7% during the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after acquiring an additional 15,791 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in shares of Nuvation Bio in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.