Nuvation Bio (NYSE:NUVB) Trading Up 9.6% – Should You Buy?

Shares of Nuvation Bio Inc. (NYSE:NUVB) traded up 9.6% during trading on Friday . The stock traded as high as $5.20 and last traded at $5.1390. 2,925,509 shares traded hands during trading, a decline of 43% from the average session volume of 5,166,386 shares. The stock had previously closed at $4.69.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NUVB. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Nuvation Bio in a report on Friday, September 19th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Tuesday, November 4th. JMP Securities set a $8.00 price objective on Nuvation Bio in a research report on Tuesday, November 4th. Citizens Jmp boosted their target price on Nuvation Bio from $6.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group initiated coverage on shares of Nuvation Bio in a research note on Tuesday, September 30th. They set a “buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.57.

Nuvation Bio Stock Performance

The business has a 50-day simple moving average of $3.97 and a 200 day simple moving average of $2.90. The firm has a market cap of $1.75 billion, a PE ratio of -7.96 and a beta of 1.50. 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 posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Equities research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In other news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NUVB. GSA Capital Partners LLP increased its holdings in shares of Nuvation Bio by 172.9% in the first quarter. GSA Capital Partners LLP now owns 661,052 shares of the company’s stock worth $1,163,000 after purchasing an additional 418,799 shares during the last quarter. XTX Topco Ltd increased its stake in Nuvation Bio by 424.9% in the 1st quarter. XTX Topco Ltd now owns 55,564 shares of the company’s stock worth $98,000 after acquiring an additional 44,979 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Nuvation Bio by 11.3% during the 1st quarter. Invesco Ltd. now owns 367,772 shares of the company’s stock worth $647,000 after acquiring an additional 37,384 shares in the last quarter. Nuveen LLC bought a new position in shares of Nuvation Bio during the 1st quarter valued at approximately $799,000. Finally, American Century Companies Inc. grew its holdings in shares of Nuvation Bio by 18.3% in the first quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock valued at $856,000 after purchasing an additional 75,362 shares in the last quarter. Institutional investors own 61.67% of the company’s stock.

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.