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

Nuvation Bio Inc. (NYSE:NUVB) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.00.

A number of research analysts have commented on NUVB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a report on Thursday, July 23rd. Cantor Fitzgerald began coverage on Nuvation Bio in a research report on Friday, August 21st. They set an “overweight” rating on the stock. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Finally, Zacks Research raised shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th.

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock opened at $6.11 on Friday. The firm has a market cap of $2.14 billion, a PE ratio of -13.88 and a beta of 1.52. The firm’s 50-day simple moving average is $6.43 and its 200-day simple moving average is $5.41. 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 has a 1 year low of $2.99 and a 1 year high of $9.75.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 46.59% and a negative net margin of 88.18%. Equities analysts forecast that Nuvation Bio will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other news, insider Kerry Wentworth sold 63,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total value of $379,260.00. Following the transaction, the insider directly owned 53,000 shares in the company, valued at approximately $319,060. This trade represents a 54.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philippe Sauvage sold 47,668 shares of Nuvation Bio stock in a transaction dated Tuesday, June 23rd. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 335,668 shares of company stock valued at $2,128,495. Corporate insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rangeley Capital LLC acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC boosted its position in 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 purchasing an additional 2,597 shares during the period. Cetera Investment Advisers acquired a new position in Nuvation Bio during the 2nd quarter valued at approximately $29,000. Captrust Financial Advisors bought a new position in Nuvation Bio during the 2nd quarter worth $32,000. Finally, KBC Group NV acquired a new stake in Nuvation Bio in the first quarter worth $37,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

Nuvation Bio Inc is a biopharmaceutical company focused on discovering and developing medicines for patients with cancer. The company applies drug discovery, translational research and clinical development capabilities to pursue therapies for cancers with significant unmet medical needs.

Nuvation Bio’s pipeline has included investigational small-molecule oncology therapies, including NUV-422, a cyclin-dependent kinase inhibitor designed to target pathways involved in cancer cell growth.