Nuvation Bio Inc. (NYSE:NUVB) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.22.

Several equities research analysts recently commented on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Monday, October 19th. Truist Financial increased their target price on Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Royal Bank Of Canada lifted their price target on Nuvation Bio from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. started coverage on Nuvation Bio in a report on Tuesday, August 18th. They issued an “overweight” rating and a $13.00 price target on the stock. Finally, HC Wainwright boosted their price target on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 27th.

Insider Activity

In related news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the sale, the insider owned 100,000 shares of the company’s stock, valued at approximately $709,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

A number of large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in Nuvation Bio by 75.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock worth $6,175,000 after acquiring an additional 619,725 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Nuvation Bio by 19.5% in the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock valued at $6,996,000 after purchasing an additional 200,621 shares during the last quarter. Tanaka Capital Management Inc. raised its holdings in shares of Nuvation Bio by 7.2% in the first quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock valued at $3,869,000 after purchasing an additional 60,220 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Nuvation Bio by 6.5% in the second quarter. Wellington Management Group LLP now owns 715,781 shares of the company’s stock valued at $4,066,000 after purchasing an additional 43,637 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Nuvation Bio in the second quarter worth $3,804,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NUVB opened at $4.57 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. Nuvation Bio has a twelve month low of $3.92 and a twelve month high of $9.75. The firm’s 50 day moving average price is $5.86 and its two-hundred day moving average price is $5.54. The firm has a market cap of $1.60 billion, a P/E ratio of -10.38 and a beta of 1.61.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. The company had revenue of $31.69 million during the quarter, compared to analyst estimates of $27.03 million. On average, analysts forecast that Nuvation Bio will post -0.34 EPS for the current fiscal year.

Nuvation Bio Company Profile

Nuvation Bio, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with cancer. The company seeks to address areas of significant unmet need, with an emphasis on targeted therapies for solid tumors.

Nuvation Bio’s lead product is taletrectinib, a next-generation tyrosine kinase inhibitor designed for patients with ROS1-positive non-small cell lung cancer (NSCLC), including certain tumors that have developed resistance to earlier ROS1-targeted treatments.