Nuvation Bio (NYSE:NUVB) Hits New 1-Year High – Should You Buy?

Nuvation Bio Inc. (NYSE:NUVB)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.01 and last traded at $9.0450, with a volume of 3975130 shares traded. The stock had previously closed at $8.52.

Analyst Upgrades and Downgrades

A number of research firms have commented on NUVB. Citizens Jmp boosted their price target on shares of Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a research report on Thursday, November 20th. Royal Bank Of Canada lifted their target price 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. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. HC Wainwright lifted their price objective on Nuvation Bio from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, JMP Securities set a $10.00 price objective on Nuvation Bio in a research note on Thursday, November 20th. One 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $10.56.

Nuvation Bio Stock Performance

The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -14.72 and a beta of 1.58. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $3.89.

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

Insider Transactions at Nuvation Bio

In related news, insider Dongfang Liu sold 150,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $7.82, for a total value of $1,173,000.00. Following the transaction, the insider directly owned 18,000 shares in the company, valued at $140,760. This represents a 89.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Hattersley sold 100,000 shares of the firm’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 transaction of $502,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 320,000 shares of company stock worth $2,050,800. Corporate insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Nuvation Bio by 16.8% in the second quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock worth $11,691,000 after purchasing an additional 864,194 shares during the period. MPM Bioimpact LLC increased its position in shares of Nuvation Bio by 11.7% in the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company’s stock valued at $8,188,000 after buying an additional 488,065 shares in the last quarter. Millennium Management LLC raised its stake in Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after buying an additional 1,298,131 shares during the period. Dimensional Fund Advisors LP raised its stake in Nuvation Bio by 19.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock worth $12,276,000 after buying an additional 551,508 shares during the period. Finally, Aisling Capital Management LP lifted its holdings in Nuvation Bio by 16.5% during the third quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock worth $10,954,000 after acquiring an additional 419,650 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.