Nuvation Bio Inc. (NYSE:NUVB) Stock Has Average Price Target of $13.38

Nuvation Bio Inc. (NYSE:NUVB) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $13.22.

A number of equities research analysts have weighed in on NUVB shares. Cantor Fitzgerald began coverage on shares of Nuvation Bio in a report on Friday, August 21st. They issued an “overweight” rating for the company. Citigroup began coverage on shares of Nuvation Bio in a research note on Wednesday. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Research upgraded shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. B. Riley Financial reissued a “buy” rating on shares of Nuvation Bio in a research note on Friday, August 7th. Finally, HC Wainwright upped their price target on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 27th.

Nuvation Bio Stock Performance

Shares of NYSE NUVB opened at $5.12 on Wednesday. Nuvation Bio has a 1 year low of $3.36 and a 1 year high of $9.75. The firm has a market cap of $1.80 billion, a P/E ratio of -11.64 and a beta of 1.61. The stock has a fifty day moving average price of $6.36 and a two-hundred day moving average price of $5.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $31.69 million during the quarter, compared to analyst estimates of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. Research analysts forecast that Nuvation Bio will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total value of $709,000.00. Following the transaction, the insider directly owned 100,000 shares of the company’s stock, valued at $709,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently modified their holdings of the business. Tidal Investments LLC boosted its position in Nuvation Bio by 0.7% during the 2nd quarter. Tidal Investments LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after acquiring an additional 2,559 shares during the period. MCF Advisors LLC acquired a new position in shares of Nuvation Bio in the 2nd quarter valued at about $155,000. WINTON GROUP Ltd acquired a new position in shares of Nuvation Bio in the 2nd quarter valued at about $110,000. NewEdge Advisors LLC lifted its position in shares of Nuvation Bio by 19.5% in the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock worth $6,996,000 after purchasing an additional 200,621 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in Nuvation Bio by 31.4% in the 2nd quarter. Squarepoint Ops LLC now owns 164,211 shares of the company’s stock worth $933,000 after buying an additional 39,267 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

Nuvation Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses small-molecule drug discovery and development approaches to pursue therapies intended to address difficult-to-treat tumors and areas of significant unmet medical need.

Nuvation Bio’s pipeline has included NUV-868, an oral investigational inhibitor of DYRK1A being studied in solid tumors, and NUV-1511, an investigational oncology drug designed to interfere with cancer-cell DNA damage response mechanisms.