Nuvation Bio Inc. (NYSE:NUVB) Given Average Recommendation of “Buy” by Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $7.83.

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Nuvation Bio from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright decreased their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Citigroup assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set an “outperform” rating on the stock. Citizens Jmp assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 target price on the stock. Finally, Jones Trading assumed coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective on the stock.

Nuvation Bio Stock Performance

Shares of NYSE NUVB opened at $1.86 on Thursday. The firm has a market capitalization of $631.19 million, a P/E ratio of -0.85 and a beta of 1.37. Nuvation Bio has a one year low of $1.54 and a one year high of $3.97. The company’s fifty day moving average is $2.15 and its two-hundred day moving average is $2.29.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The company had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $0.42 million. On average, sell-side analysts forecast that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Hung bought 300,000 shares of Nuvation Bio stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $1.62 per share, for a total transaction of $486,000.00. Following the acquisition, the chief executive officer now owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Dongfang Liu sold 20,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the transaction, the insider now owns 12,000 shares in the company, valued at approximately $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Nuvation Bio by 54.9% in the 4th quarter. FMR LLC now owns 45,285,572 shares of the company’s stock valued at $120,460,000 after purchasing an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Nuvation Bio by 45.4% in the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock valued at $41,849,000 after purchasing an additional 4,913,820 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Nuvation Bio by 22.9% in the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock valued at $13,174,000 after purchasing an additional 922,503 shares in the last quarter. MPM Bioimpact LLC lifted its holdings in Nuvation Bio by 11.7% in the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company’s stock valued at $8,188,000 after purchasing an additional 488,065 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares in the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.