Nuvation Bio (NYSE:NUVB) Hits New 1-Year High – Should You Buy?

Nuvation Bio Inc. (NYSE:NUVB)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $6.54 and last traded at $6.6230, with a volume of 8980583 shares changing hands. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

NUVB has been the subject of several analyst reports. Wall Street Zen raised shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. B. Riley initiated coverage on Nuvation Bio in a report on Wednesday. They issued a “buy” rating and a $12.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Nuvation Bio in a research note on Friday, September 19th. Jefferies Financial Group began coverage on Nuvation Bio in a research report on Tuesday, September 30th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Citizens Jmp increased their target price on Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nuvation Bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Nuvation Bio Stock Up 1.2%

The stock has a market cap of $2.43 billion, a PE ratio of -11.09 and a beta of 1.50. The business has a fifty day moving average of $4.19 and a 200-day moving average of $3.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39.

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

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dongfang Liu sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $5.10, for a total transaction of $76,500.00. Following the completion of the sale, the insider owned 18,000 shares of the company’s stock, valued at approximately $91,800. This represents a 45.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 160,000 shares of company stock worth $797,800. Insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently modified their holdings of NUVB. Highline Wealth Partners LLC bought a new position in Nuvation Bio in the second quarter worth approximately $25,000. Rangeley Capital LLC bought a new stake in Nuvation Bio during the 2nd quarter valued at $25,000. Parallel Advisors LLC increased its holdings in shares of 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 acquiring an additional 2,597 shares during the period. Cetera Investment Advisers bought a new position in shares of Nuvation Bio in the 2nd quarter worth $29,000. Finally, Captrust Financial Advisors bought a new position in shares of Nuvation Bio in the 2nd quarter worth $32,000. 61.67% of the stock is currently owned by institutional investors.

About Nuvation Bio

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.