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

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.00.

A number of brokerages have recently commented on NUVB. Royal Bank Of Canada increased their price target on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. HC Wainwright increased their target price on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Friday, July 17th. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Finally, Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a research report on Thursday, July 23rd.

Insider Buying and Selling at Nuvation Bio

In related news, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction 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 transaction, the chief financial officer owned 12,673 shares of the company’s stock, valued at approximately $76,164.73. This trade represents a 79.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of Nuvation Bio stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the transaction, the insider owned 32,591 shares in the company, valued at approximately $196,523.73. The trade was a 79.32% 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 sold a total of 235,668 shares of company stock worth $1,419,495 over the last 90 days. Company insiders own 30.11% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Nuvation Bio by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock valued at $139,378,000 after acquiring an additional 101,011 shares during the period. Millennium Management LLC increased its stake in Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the period. Dimensional Fund Advisors LP increased its stake in Nuvation Bio by 19.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock worth $12,276,000 after purchasing an additional 551,508 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Nuvation Bio by 852.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock valued at $24,270,000 after purchasing an additional 2,424,109 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Nuvation Bio by 95.7% during the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock valued at $8,797,000 after purchasing an additional 1,162,837 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NUVB opened at $6.51 on Tuesday. Nuvation Bio has a 12-month low of $2.57 and a 12-month high of $9.75. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. The company has a market cap of $2.29 billion, a PE ratio of -14.80 and a beta of 1.52. The stock has a 50-day moving average price of $5.94 and a 200-day moving average price of $5.26.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data 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 return on equity of 46.59% and a negative net margin of 88.18%.The company had revenue of $31.69 million during the quarter, compared to the consensus estimate of $27.03 million. As a group, equities analysts forecast that Nuvation Bio will post -0.39 earnings per share for the current fiscal year.

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.