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

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $13.00.

A number of analysts have recently weighed in on NUVB shares. Royal Bank Of Canada raised their target price on Nuvation Bio from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial upped their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Zacks Research raised shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. HC Wainwright raised their price objective on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, B. Riley Financial restated a “buy” rating on shares of Nuvation Bio in a research report on Friday.

Nuvation Bio Trading Down 0.5%

NUVB stock opened at $6.57 on Tuesday. The business has a fifty day moving average price of $5.79 and a 200 day moving average price of $5.24. Nuvation Bio has a fifty-two week low of $2.18 and a fifty-two week high of $9.75. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -14.93 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 (NYSE:NUVB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $31.69 million during the quarter, compared to analyst estimates of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. Analysts expect that Nuvation Bio will post -0.38 EPS for the current fiscal year.

Insider Activity at Nuvation Bio

In other news, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the sale, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at $76,164.73. This represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 63,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total transaction of $379,260.00. Following the completion of the sale, the insider directly owned 53,000 shares of the company’s stock, valued at approximately $319,060. This represents a 54.31% decrease in their position. 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. Insiders sold 235,668 shares of company stock valued at $1,419,495 over the last three months. 30.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently made changes to their positions in NUVB. Rangeley Capital LLC bought a new position in Nuvation Bio in the second quarter valued at about $25,000. Parallel Advisors LLC lifted its position in 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 during the period. Cetera Investment Advisers bought a new position in shares of Nuvation Bio in the 2nd quarter valued at about $29,000. Captrust Financial Advisors acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $32,000. Finally, KBC Group NV acquired a new stake in shares of Nuvation Bio during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.