Nuvation Bio Inc. (NUVB) – What Are Brokerages Thinking About This Stock?

Nuvation Bio Inc. (NYSE:NUVB) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.22.

A number of equities research analysts recently issued reports on the company. Truist Financial increased 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. Wall Street Zen cut shares of Nuvation Bio from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. Cantor Fitzgerald started coverage on Nuvation Bio in a research note on Friday, August 21st. They set an “overweight” rating for the company. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, October 15th.

Nuvation Bio Price Performance

NUVB stock opened at $4.75 on Friday. The firm has a 50 day moving average of $5.63 and a 200-day moving average of $5.42. The firm has a market capitalization of $1.67 billion, a P/E ratio of -10.80 and a beta of 1.61. Nuvation Bio has a 12 month low of $3.92 and a 12 month high of $9.75. 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 (NYSE:NUVB) last posted its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. The firm had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. As a group, sell-side analysts predict that Nuvation Bio will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total transaction of $709,000.00. Following the completion of the transaction, the insider owned 100,000 shares of the company’s stock, valued at approximately $709,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 made changes to their positions in the stock. Torray Investment Partners LLC purchased a new stake in shares of Nuvation Bio during the third quarter valued at approximately $1,539,000. Profund Advisors LLC increased its position in shares of Nuvation Bio by 297.6% during the third quarter. Profund Advisors LLC now owns 240,483 shares of the company’s stock valued at $1,347,000 after acquiring an additional 179,994 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Nuvation Bio by 847.9% during the third quarter. Sterling Capital Management LLC now owns 8,389 shares of the company’s stock valued at $47,000 after acquiring an additional 7,504 shares in the last quarter. GK Wealth Management LLC purchased a new position in Nuvation Bio in the 3rd quarter worth approximately $52,000. Finally, Emergent Wealth Advisors LLC purchased a new position in Nuvation Bio in the 3rd quarter worth approximately $67,000. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Company Profile

Nuvation Bio, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with cancer. The company seeks to address areas of significant unmet need, with an emphasis on targeted therapies for solid tumors.

Nuvation Bio’s lead product is taletrectinib, a next-generation tyrosine kinase inhibitor designed for patients with ROS1-positive non-small cell lung cancer (NSCLC), including certain tumors that have developed resistance to earlier ROS1-targeted treatments.