Brokerages Set Nuvation Bio Inc. (NYSE:NUVB) Price Target at $12.38

Shares of Nuvation Bio Inc. (NYSE:NUVB) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $12.3750.

NUVB has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nuvation Bio in a report on Wednesday.

Insider Activity at Nuvation Bio

In related news, insider Stacy Markel sold 125,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the completion of the sale, the insider owned 32,591 shares in the company, valued at $196,523.73. This trade represents a 79.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philippe Sauvage sold 47,668 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was 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 in the company, valued at approximately $76,164.73. This represents a 79.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 235,668 shares of company stock valued at $1,419,495 over the last 90 days. Company insiders own 30.11% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rangeley Capital LLC purchased a new position in Nuvation Bio in the 2nd quarter valued at approximately $25,000. Parallel Advisors LLC raised its stake 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 worth $28,000 after buying an additional 2,597 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Nuvation Bio during the 2nd quarter worth $29,000. Captrust Financial Advisors purchased a new stake in shares of Nuvation Bio in the 2nd quarter worth about $32,000. Finally, KBC Group NV purchased a new stake in shares of Nuvation Bio in the 1st quarter worth about $37,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Stock Performance

Shares of NUVB opened at $6.50 on Friday. The stock has a market capitalization of $2.26 billion, a P/E ratio of -15.11 and a beta of 1.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. Nuvation Bio has a 1 year low of $2.18 and a 1 year high of $9.75. The company’s fifty day moving average is $5.35 and its two-hundred day moving average is $5.30.

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

About Nuvation Bio

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.