Nuvation Bio Inc. (NYSE:NUVB) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Nuvation Bio “Moderate Buy”: Nine of 12 analysts recommend buying the stock, with an average 12-month price target of $13.38 versus its recent price of $5.63.
• Recent analyst coverage was broadly positive, including upgraded price targets from RBC and Truist and “overweight” ratings from JPMorgan and Cantor Fitzgerald.
• Nuvation Bio reported quarterly revenue of $31.69 million, exceeding estimates, but its $0.15 per-share loss was slightly worse than expected. An insider also sold 100,000 shares under a pre-arranged trading plan.

Shares of Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) have been given an average rating of "Moderate Buy" by the twelve analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $13.38.

NUVB has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. began coverage on shares of Nuvation Bio in a research report on Tuesday, August 18th. They issued an "overweight" rating and a $13.00 price target on the stock. Truist Financial boosted their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Cantor Fitzgerald assumed coverage on shares of Nuvation Bio in a report on Friday, August 21st. They set an "overweight" rating for the company. Finally, Zacks Research upgraded shares of Nuvation Bio from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th.

Insider Activity at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the transaction, the insider directly owned 100,000 shares in the company, valued at approximately $709,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 30.11% of the company's stock.

Institutional Trading of Nuvation Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new stake in shares of Nuvation Bio in the first quarter valued at approximately $37,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Nuvation Bio in the 1st quarter valued at $43,000. Tortoise Investment Management LLC acquired a new stake in Nuvation Bio in the 2nd quarter worth $78,000. Concurrent Investment Advisors LLC acquired a new stake in Nuvation Bio in the 2nd quarter worth $83,000. Finally, Revisor Wealth Management LLC increased its holdings in shares of Nuvation Bio by 40.3% during the 1st quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company's stock worth $79,000 after purchasing an additional 5,317 shares during the period. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Price Performance

NUVB opened at $5.63 on Wednesday. The stock has a fifty day moving average of $6.42 and a 200-day moving average of $5.48. The firm has a market capitalization of $1.98 billion, a P/E ratio of -12.81 and a beta of 1.52. 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 $3.31 and a 12-month high of $9.75.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share (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 for the quarter, compared to analyst estimates of $27.03 million. Equities analysts forecast that Nuvation Bio will post -0.34 EPS for the current fiscal year.

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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