Nuvation Bio (NYSE:NUVB) Sets New 1-Year High – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) hit a new 52-week high on Wednesday . The company traded as high as $6.54 and last traded at $6.6230, with a volume of 8980583 shares changing hands. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. B. Riley initiated coverage on Nuvation Bio in a report on Wednesday. They issued a “buy” rating and a $12.00 target price for the company. Wall Street Zen raised shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Nuvation Bio in a report on Friday, September 19th. Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of Nuvation Bio in a report on Monday, October 13th. Finally, Jefferies Financial Group initiated coverage on shares of Nuvation Bio in a research report on Tuesday, September 30th. They issued a “buy” rating and a $10.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Nuvation Bio Price Performance

The company has a market cap of $2.22 billion, a PE ratio of -10.14 and a beta of 1.49. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $4.04 and a 200-day simple moving average of $2.96.

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

Insiders Place Their Bets

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction on Monday, October 27th. The shares were sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 29.93% of the stock is currently owned by company insiders.

Institutional Trading of Nuvation Bio

A number of institutional investors have recently made changes to their positions in the business. Highline Wealth Partners LLC acquired a new stake in shares of Nuvation Bio in the 2nd quarter worth $25,000. Rangeley Capital LLC purchased a new stake in Nuvation Bio in the second quarter valued at about $25,000. Parallel Advisors LLC raised its stake in Nuvation Bio by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after buying an additional 2,597 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Nuvation Bio in the second quarter worth about $29,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Nuvation Bio during the second quarter worth about $32,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.