B. Riley Begins Coverage on Nuvation Bio (NYSE:NUVB)

Equities research analysts at B. Riley initiated coverage on shares of Nuvation Bio (NYSE:NUVB) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating on the stock.

Several other equities analysts have also recently weighed in on NUVB. Wedbush reissued an “outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a report on Monday, October 13th. Wall Street Zen raised Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Royal Bank Of Canada boosted their price target on Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Jefferies Financial Group began coverage on shares of Nuvation Bio in a research note on Tuesday, September 30th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Citizens Jmp boosted their target price on shares of Nuvation Bio from $6.00 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Nuvation Bio currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Nuvation Bio Stock Up 49.0%

NUVB stock opened at $7.15 on Tuesday. 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 1-year low of $1.54 and a 1-year high of $7.35. The stock has a market capitalization of $2.45 billion, a P/E ratio of -11.17 and a beta of 1.50. The business has a fifty day moving average price of $4.11 and a 200-day moving average price of $2.99.

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

Insider Activity at Nuvation Bio

In related news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dongfang Liu sold 15,000 shares of Nuvation Bio stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $5.10, for a total transaction of $76,500.00. Following the transaction, the insider directly owned 18,000 shares of the company’s stock, valued at $91,800. The trade was a 45.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,000 shares of company stock valued at $797,800 over the last ninety days. Corporate insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares in the last quarter. LCM Capital Management Inc increased its position in shares of Nuvation Bio by 29.2% during the third quarter. LCM Capital Management Inc now owns 15,500 shares of the company’s stock worth $57,000 after purchasing an additional 3,500 shares in the last quarter. Mackenzie Financial Corp raised its stake in Nuvation Bio by 38.8% in the third quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock valued at $58,000 after buying an additional 4,400 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Nuvation Bio by 21.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 24,610 shares of the company’s stock worth $91,000 after purchasing an additional 4,419 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Nuvation Bio by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after purchasing an additional 4,608 shares during the period. 61.67% of the stock is owned by hedge funds and other institutional investors.

About Nuvation Bio

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.