Nuvation Bio Inc. (NYSE:NUVB) Stock Has Consensus Price Target of $13.38 According to Brokerages

Nuvation Bio Inc. (NYSE:NUVB) has earned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.22.

NUVB has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a report on Wednesday, September 16th. HC Wainwright increased their price objective on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 27th. Cantor Fitzgerald started coverage on Nuvation Bio in a research report on Friday, August 21st. They set an “overweight” rating on the stock. Royal Bank Of Canada upped their price target on Nuvation Bio from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Nuvation Bio in a research note on Tuesday, August 18th. They issued an “overweight” rating and a $13.00 price target on the stock.

Nuvation Bio Price Performance

Shares of NUVB opened at $5.12 on Wednesday. Nuvation Bio has a twelve month low of $3.36 and a twelve month high of $9.75. The firm’s fifty day simple moving average is $6.36 and its 200-day simple moving average is $5.50. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -11.64 and a beta of 1.61. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $31.69 million for the quarter, compared to analyst estimates of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. Equities analysts forecast that Nuvation Bio will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total value of $709,000.00. Following the completion of the transaction, the insider owned 100,000 shares in the company, valued at approximately $709,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 30.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NUVB. NewEdge Advisors LLC grew its holdings in shares of Nuvation Bio by 19.5% during the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock worth $6,996,000 after purchasing an additional 200,621 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Nuvation Bio by 75.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock valued at $6,175,000 after purchasing an additional 619,725 shares during the period. ACT Capital Management LLC acquired a new stake in shares of Nuvation Bio in the 4th quarter valued at about $5,470,000. Wellington Management Group LLP grew its stake in Nuvation Bio by 6.5% during the 2nd quarter. Wellington Management Group LLP now owns 715,781 shares of the company’s stock worth $4,066,000 after buying an additional 43,637 shares during the last quarter. Finally, Tanaka Capital Management Inc. grew its stake in Nuvation Bio by 7.2% during the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock worth $3,869,000 after buying an additional 60,220 shares during the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

About Nuvation Bio

Nuvation Bio, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for the treatment of cancer. The company uses small-molecule drug discovery and development approaches to pursue therapies intended to address difficult-to-treat tumors and areas of significant unmet medical need.

Nuvation Bio’s pipeline has included NUV-868, an oral investigational inhibitor of DYRK1A being studied in solid tumors, and NUV-1511, an investigational oncology drug designed to interfere with cancer-cell DNA damage response mechanisms.