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

Nuvation Bio Inc. (NYSE:NUVB) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.50.

Several brokerages have recently weighed in on NUVB. Zacks Research downgraded shares of Nuvation Bio from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. UBS Group reduced their price target on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the transaction, the insider owned 18,000 shares of the company’s stock, valued at approximately $90,360. This trade represents a 73.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal bought 25,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were acquired at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the transaction, the director directly owned 225,000 shares in the company, valued at approximately $1,064,250. This trade represents a 12.50% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 286,750 shares of company stock valued at $1,339,118. Company insiders own 30.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Nuvation Bio by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock worth $139,378,000 after buying an additional 101,011 shares during the last quarter. Millennium Management LLC grew its position in shares of 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 buying an additional 1,298,131 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 551,508 shares during the last quarter. Aisling Capital Management LP grew its position in shares of Nuvation Bio by 16.5% in the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock worth $10,954,000 after buying an additional 419,650 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Nuvation Bio by 852.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock worth $24,270,000 after buying an additional 2,424,109 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $5.55 on Monday. Nuvation Bio has a 52-week low of $1.81 and a 52-week high of $9.75. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -12.90 and a beta of 1.52. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $4.82 and its 200 day moving average is $5.78.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, beating 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 business had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Sell-side analysts forecast that Nuvation Bio will post -0.39 EPS for the current fiscal 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.