Analysts Set Nuvation Bio Inc. (NYSE:NUVB) Price Target at $10.80

Nuvation Bio Inc. (NYSE:NUVB) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

Several research analysts have recently weighed in on NUVB shares. Citizens Jmp boosted their target price on Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a report on Thursday, November 20th. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of Nuvation Bio in a research report on Monday, October 13th. Jefferies Financial Group assumed coverage on Nuvation Bio in a research note on Tuesday, September 30th. They set a “buy” rating and a $10.00 price objective on the stock. HC Wainwright cut their target price on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Thursday, January 22nd.

Insider Buying and Selling

In other Nuvation Bio news, insider Dongfang Liu sold 150,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $7.82, for a total value of $1,173,000.00. Following the transaction, the insider directly owned 18,000 shares in the company, valued at $140,760. The trade was a 89.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 220,000 shares of company stock worth $1,548,800 over the last quarter. 29.93% of the stock is owned by insiders.

Institutional Trading of Nuvation Bio

Several institutional investors have recently made changes to their positions in NUVB. Parallel Advisors LLC increased its stake in Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Nuvation Bio during the 3rd quarter worth $39,000. Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth about $40,000. HBK Sorce Advisory LLC purchased a new stake in Nuvation Bio in the 3rd quarter valued at about $42,000. Finally, Federated Hermes Inc. raised its holdings in Nuvation Bio by 75.9% in the 3rd quarter. Federated Hermes Inc. now owns 11,630 shares of the company’s stock valued at $43,000 after buying an additional 5,020 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Trading Up 1.6%

Shares of NUVB opened at $5.59 on Friday. Nuvation Bio has a 52-week low of $1.54 and a 52-week high of $9.75. The stock has a market cap of $1.92 billion, a PE ratio of -8.73 and a beta of 1.54. The firm’s fifty day moving average is $7.85 and its two-hundred day moving average is $4.97. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The firm had revenue of $13.12 million for the quarter, compared to the consensus estimate of $7.48 million. Research analysts forecast that Nuvation Bio will post -0.36 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.