Nuvation Bio Inc. (NYSE:NUVB) Stock Has Average Target Price of $13.22

Key Points

• Analysts rate Nuvation Bio “Moderate Buy,” with nine buy, two hold and one sell recommendation; the average 12-month price target is $13.22.
• NUVB opened at $4.57, with a market capitalization of about $1.60 billion. The company reported a quarterly loss of $0.15 per share, slightly missing estimates, while revenue of $31.69 million exceeded expectations.
• Nuvation Bio is developing cancer therapies, led by taletrectinib for ROS1-positive non-small cell lung cancer; institutional investors own 61.67% of the stock, while an insider recently sold 100,000 shares.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $13.22.

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on Nuvation Bio from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Citigroup reiterated a "market outperform" rating on shares of Nuvation Bio in a research report on Monday, October 19th. HC Wainwright lifted their price objective on shares of Nuvation Bio from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Zacks Research upgraded shares of Nuvation Bio from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Citizens Jmp restated a "market outperform" rating and set a $10.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 16th.

Nuvation Bio Stock Down 2.9%

NYSE:NUVB opened at $4.57 on Friday. The company has a quick ratio of 8.14, a current ratio of 8.37 and a debt-to-equity ratio of 0.96. Nuvation Bio has a 12-month low of $3.92 and a 12-month high of $9.75. The stock's fifty day simple moving average is $5.86 and its 200-day simple moving average is $5.54. The firm has a market capitalization of $1.60 billion, a P/E ratio of -10.38 and a beta of 1.61.

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

Insider Buying and Selling at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio 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 trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Nuvation Bio

Large investors have recently made changes to their positions in the company. Tema ETFs LLC lifted its holdings in Nuvation Bio by 0.7% during the second quarter. Tema ETFs LLC now owns 395,313 shares of the company's stock worth $2,245,000 after acquiring an additional 2,559 shares in the last quarter. Tidal Investments LLC grew its stake in Nuvation Bio by 0.7% in the second quarter. Tidal Investments LLC now owns 395,313 shares of the company's stock valued at $2,245,000 after acquiring an additional 2,559 shares during the period. Revisor Wealth Management LLC increased its holdings 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 worth $79,000 after acquiring an additional 5,317 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Nuvation Bio by 9.9% in the second quarter. Arizona State Retirement System now owns 66,946 shares of the company's stock worth $380,000 after acquiring an additional 6,015 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Nuvation Bio by 847.9% during the third quarter. Sterling Capital Management LLC now owns 8,389 shares of the company's stock worth $47,000 after purchasing an additional 7,504 shares during the period. Institutional investors own 61.67% of the company's stock.

About Nuvation Bio

Nuvation Bio, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with cancer. The company seeks to address areas of significant unmet need, with an emphasis on targeted therapies for solid tumors.

Nuvation Bio's lead product is taletrectinib, a next-generation tyrosine kinase inhibitor designed for patients with ROS1-positive non-small cell lung cancer (NSCLC), including certain tumors that have developed resistance to earlier ROS1-targeted treatments.

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