Analysts Set Nuvation Bio Inc. (NYSE:NUVB) PT at $12.38

Shares of Nuvation Bio Inc. (NYSE:NUVB) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $12.3750.

A number of brokerages have weighed in on NUVB. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Nuvation Bio in a report on Tuesday, May 5th. Truist Financial boosted their price objective on Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada lowered their target price on Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th.

Insider Buying and Selling at Nuvation Bio

In related news, CFO Philippe Sauvage sold 47,668 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total transaction of $286,484.68. Following the completion of the transaction, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at $76,164.73. This trade represents a 79.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $4.73 per share, with a total value of $118,250.00. Following the purchase, the director directly owned 225,000 shares of the company’s stock, valued at $1,064,250. The trade was a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 235,668 shares of company stock worth $1,419,495 over the last ninety days. Insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in shares of Nuvation Bio by 9.8% in the fourth quarter. HighTower Advisors LLC now owns 22,457 shares of the company’s stock valued at $201,000 after buying an additional 2,007 shares during the period. Tema ETFs LLC boosted its position in Nuvation Bio by 0.7% during the second quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after purchasing an additional 2,559 shares during the period. Parallel Advisors LLC lifted its stake in shares of Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after buying an additional 2,597 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Nuvation Bio by 17.7% during the 4th quarter. Russell Investments Group Ltd. now owns 24,456 shares of the company’s stock valued at $219,000 after acquiring an additional 3,681 shares during the period. Finally, Meridian Wealth Management LLC lifted its position in shares of Nuvation Bio by 3.8% during the fourth quarter. Meridian Wealth Management LLC now owns 113,565 shares of the company’s stock worth $1,018,000 after acquiring an additional 4,200 shares in the last quarter. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Price Performance

Shares of NUVB stock opened at $6.41 on Friday. Nuvation Bio has a twelve month low of $2.18 and a twelve month high of $9.75. 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 business has a fifty day simple moving average of $5.27 and a 200 day simple moving average of $5.33. The company has a market cap of $2.23 billion, a P/E ratio of -14.90 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. On average, 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.