Nuvation Bio (NYSE:NUVB) Research Coverage Started at Citigroup

Citigroup began coverage on shares of Nuvation Bio (NYSE:NUVB) in a report published on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $12.00 target price on the stock.

Several other equities research analysts also recently commented on NUVB. HC Wainwright upped their price target on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Royal Bank Of Canada lifted their price objective on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Citizens Jmp reissued a “market outperform” rating and set a $10.00 target price on shares of Nuvation Bio in a research note on Wednesday, September 16th. B. Riley Financial restated a “buy” rating on shares of Nuvation Bio in a report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.22.

Nuvation Bio Price Performance

NYSE NUVB opened at $5.12 on Wednesday. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. Nuvation Bio has a 1 year low of $3.36 and a 1 year high of $9.75. The company has a market cap of $1.80 billion, a PE ratio of -11.64 and a beta of 1.61. The stock’s 50-day moving average price is $6.36 and its two-hundred day moving average price is $5.49.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Thursday, August 6th. The company reported ($0.15) EPS 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 return on equity of 46.59% and a negative net margin of 88.18%. On average, analysts predict that Nuvation Bio will post -0.34 EPS for the current year.

Insider Activity

In other news, insider Gary Hattersley sold 100,000 shares of the 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 completion of the sale, the insider directly owned 100,000 shares of the company’s stock, valued at $709,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tema ETFs LLC boosted its stake in shares of Nuvation Bio by 0.7% during the 2nd quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock valued at $2,245,000 after buying an additional 2,559 shares during the period. Tidal Investments LLC increased its stake in shares of Nuvation Bio by 0.7% in the second 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 last quarter. Revisor Wealth Management LLC increased its stake in shares of Nuvation Bio by 40.3% in the first quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company’s stock worth $79,000 after acquiring an additional 5,317 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Nuvation Bio by 9.9% during the second quarter. Arizona State Retirement System now owns 66,946 shares of the company’s stock worth $380,000 after acquiring an additional 6,015 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Nuvation Bio during the first quarter worth $37,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.