Nuvation Bio (NYSE:NUVB) Sets New 52-Week High – Time to Buy?

Shares of Nuvation Bio Inc. (NYSE:NUVB) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.59 and last traded at $7.5850, with a volume of 1656299 shares. The stock had previously closed at $7.41.

Analysts Set New Price Targets

A number of brokerages have recently commented on NUVB. Citizens Jmp lifted their price objective on Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. JMP Securities set a $10.00 price objective on shares of Nuvation Bio in a report on Thursday, November 20th. Finally, Truist Financial set a $11.00 target price on shares of Nuvation Bio in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

Nuvation Bio Trading Up 3.7%

The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -11.99 and a beta of 1.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.39 and a current ratio of 8.48. The firm has a fifty day moving average of $4.35 and a 200-day moving average of $3.10.

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

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 15,000 shares of Nuvation Bio stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $5.10, for a total value of $76,500.00. Following the completion of the transaction, the insider directly owned 18,000 shares in the company, valued at $91,800. The trade was a 45.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $5.02, for a total value of $502,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,000 shares of company stock worth $797,800 in the last three months. 29.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the stock. Exome Asset Management LLC bought a new stake in Nuvation Bio in the 1st quarter valued at about $170,000. American Century Companies Inc. grew its position in Nuvation Bio by 18.3% in the 1st quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock worth $856,000 after purchasing an additional 75,362 shares during the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Nuvation Bio in the first quarter valued at approximately $1,144,000. Los Angeles Capital Management LLC bought a new stake in shares of Nuvation Bio during the second quarter valued at approximately $207,000. Finally, Brighton Jones LLC bought a new stake in Nuvation Bio during the 2nd quarter valued at $120,000. 61.67% of the stock is currently owned by institutional investors.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.