Nuvation Bio (NYSE:NUVB) Now Covered by Citigroup

Key Points

• Citigroup initiated coverage of Nuvation Bio with a “buy” rating and a $12 price target, implying approximately 113% upside from the stock’s $5.63 opening price.
• Analyst sentiment is broadly positive, with nine Buy ratings, two Holds, and one Sell; the consensus rating is “Moderate Buy” with an average price target of $13.22.
• Nuvation Bio reported a quarterly loss of $0.15 per share, slightly worse than the $0.14 consensus estimate, although revenue of $31.69 million exceeded expectations of $27.03 million.

Investment analysts at Citigroup initiated coverage on shares of Nuvation Bio (NYSE:NUVB - Get Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $12.00 price target on the stock. Citigroup's price target indicates a potential upside of 112.95% from the stock's current price.

NUVB has been the subject of several other reports. Truist Financial raised their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvation Bio in a research note on Friday, July 17th. Zacks Research raised shares of Nuvation Bio from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. B. Riley Financial restated a "buy" rating on shares of Nuvation Bio in a report on Friday, August 7th. Finally, Wedbush reiterated an "outperform" rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 16th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $13.22.

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $5.63 on Wednesday. Nuvation Bio has a 1-year low of $3.31 and a 1-year high of $9.75. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -12.81 and a beta of 1.52. The stock's fifty day simple moving average is $6.42 and its 200-day simple moving average is $5.48.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%.The business had revenue of $31.69 million during the quarter, compared to analysts' expectations of $27.03 million. On average, sell-side analysts predict that Nuvation Bio will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

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

Institutional Trading of Nuvation Bio

Several large investors have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in Nuvation Bio in the 1st quarter worth approximately $37,000. Patriot Financial Group Insurance Agency LLC bought a new position in Nuvation Bio in the 1st quarter worth $43,000. Tortoise Investment Management LLC acquired a new position in Nuvation Bio during the 2nd quarter worth $78,000. Concurrent Investment Advisors LLC bought a new stake in Nuvation Bio during the second quarter valued at about $83,000. Finally, Revisor Wealth Management LLC grew its position in shares of Nuvation Bio by 40.3% in the first quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company's stock valued at $79,000 after purchasing an additional 5,317 shares during the last quarter. Institutional investors own 61.67% of the company's stock.

Nuvation Bio Company Profile

Nuvation Bio Inc is a biopharmaceutical company focused on discovering and developing medicines for patients with cancer. The company applies drug discovery, translational research and clinical development capabilities to pursue therapies for cancers with significant unmet medical needs.

Nuvation Bio's pipeline has included investigational small-molecule oncology therapies, including NUV-422, a cyclin-dependent kinase inhibitor designed to target pathways involved in cancer cell growth.

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