Nuvation Bio (NYSE:NUVB) Price Target Raised to $13.00 at Truist Financial

Nuvation Bio (NYSE:NUVB) had its price objective hoisted by equities research analysts at Truist Financial from $12.00 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 132.89% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a report on Tuesday, May 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a report on Tuesday, May 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Nuvation Bio Trading Down 2.1%

Shares of NUVB stock opened at $5.58 on Tuesday. The stock’s fifty day moving average price is $5.01 and its two-hundred day moving average price is $5.58. The company has a market cap of $1.94 billion, a PE ratio of -12.98 and a beta of 1.52. Nuvation Bio has a fifty-two week low of $2.03 and a fifty-two week high of $9.75. 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 (NYSE:NUVB) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The company had revenue of $83.23 million for the quarter, compared to analyst estimates of $66.22 million. Equities analysts predict that Nuvation Bio will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other news, Director Robert Mashal purchased 25,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the acquisition, the director owned 225,000 shares in the company, valued at $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stacy Markel sold 125,000 shares of the business’s stock in a transaction that occurred 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 $196,523.73. This trade represents a 79.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 322,418 shares of company stock worth $1,854,612. Company insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of NUVB. Rangeley Capital LLC bought a new stake in Nuvation Bio during the second quarter valued at $25,000. Parallel Advisors LLC raised its position in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Nuvation Bio in the 2nd quarter valued at about $29,000. Captrust Financial Advisors acquired a new position in shares of Nuvation Bio in the 2nd quarter valued at about $32,000. Finally, KBC Group NV bought a new stake in shares of Nuvation Bio during the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.