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

Nuvation Bio Inc. (NYSE:NUVB) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.5556.

Several research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of Nuvation Bio in a research note on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Wednesday, October 8th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research note on Tuesday, November 4th. B. Riley assumed coverage on shares of Nuvation Bio in a report on Wednesday, November 19th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on shares of Nuvation Bio from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $8.59 on Monday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -13.41 and a beta of 1.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $9.75. The stock’s 50 day moving average price is $7.25 and its 200 day moving average price is $4.41.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.The firm had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Equities research analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In related news, insider Dongfang Liu sold 150,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the completion of the transaction, the insider owned 18,000 shares in the company, valued at $140,760. This trade represents a 89.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 320,000 shares of company stock valued at $2,050,800. Corporate insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Nuvation Bio by 472.8% in the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock worth $2,500,000 after acquiring an additional 557,656 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new position in Nuvation Bio in the 3rd quarter worth approximately $39,000. CIBC Bancorp USA Inc. purchased a new position in Nuvation Bio during the 3rd quarter worth approximately $98,000. Caitong International Asset Management Co. Ltd grew its position in Nuvation Bio by 811.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 39,950 shares of the company’s stock worth $148,000 after purchasing an additional 35,568 shares in the last quarter. Finally, Connective Capital Management LLC acquired a new stake in Nuvation Bio during the 3rd quarter valued at $369,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.