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

Nuvation Bio Inc. (NYSE:NUVB) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.50.

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Royal Bank Of Canada restated an “outperform” rating and set a $20.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Zacks Research cut shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Wedbush restated an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th.

Nuvation Bio Stock Down 0.3%

NYSE:NUVB opened at $5.55 on Monday. The company has a market cap of $1.93 billion, a PE ratio of -12.90 and a beta of 1.52. Nuvation Bio has a twelve month low of $1.81 and a twelve month high of $9.75. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $4.82 and its two-hundred day moving average is $5.78.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. The company had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. Analysts anticipate that Nuvation Bio will post -0.39 EPS for the current year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the purchase, the director owned 225,000 shares in the company, valued at approximately $1,064,250. The trade was a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dongfang Liu sold 50,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the transaction, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $90,360. This trade represents a 73.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 286,750 shares of company stock worth $1,339,118. Company insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors have recently made changes to their positions in the company. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $25,000. Parallel Advisors LLC increased its holdings in shares of Nuvation Bio by 51.9% during 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 in the last quarter. Cetera Investment Advisers purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $29,000. Captrust Financial Advisors purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $32,000. Finally, KBC Group NV purchased a new position in shares of Nuvation Bio during the 1st quarter valued at approximately $37,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

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.