Nuvation Bio Inc. (NYSE:NUVB) Receives Consensus Rating of "Buy" from Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) have been given an average rating of "Buy" by the six analysts that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.83.

Several brokerages recently issued reports on NUVB. Citizens Jmp initiated coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price target on the stock. HC Wainwright decreased their target price on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Jones Trading initiated coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price target on the stock. Wedbush reiterated an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Thursday, May 15th. Finally, Citigroup began coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They set an "outperform" rating on the stock.

Insider Activity

In other news, CEO David Hung purchased 200,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $1.66 per share, with a total value of $332,000.00. Following the completion of the transaction, the chief executive officer now directly owns 58,481,054 shares of the company's stock, valued at approximately $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the transaction, the insider now directly owns 12,000 shares in the company, valued at $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.93% of the company's stock.

Institutional Trading of Nuvation Bio

A number of institutional investors have recently made changes to their positions in NUVB. FMR LLC raised its holdings in shares of Nuvation Bio by 54.9% during the fourth quarter. FMR LLC now owns 45,285,572 shares of the company's stock valued at $120,460,000 after purchasing an additional 16,046,701 shares during the last quarter. Vanguard Group Inc. raised its holdings in Nuvation Bio by 45.4% during the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock valued at $41,849,000 after acquiring an additional 4,913,820 shares during the period. Geode Capital Management LLC grew its position in shares of Nuvation Bio by 22.9% during the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock worth $13,174,000 after purchasing an additional 922,503 shares in the last quarter. MPM Bioimpact LLC lifted its holdings in Nuvation Bio by 11.7% in the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company's stock worth $8,188,000 after purchasing an additional 488,065 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.

Nuvation Bio Stock Performance

Nuvation Bio stock traded up $0.08 during mid-day trading on Friday, hitting $2.33. 1,608,121 shares of the company traded hands, compared to its average volume of 2,280,689. The stock has a market cap of $791.11 million, a price-to-earnings ratio of -1.07 and a beta of 1.42. Nuvation Bio has a one year low of $1.54 and a one year high of $3.97. The stock has a fifty day moving average price of $2.01 and a 200-day moving average price of $2.35.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $3.08 million for the quarter, compared to the consensus estimate of $0.42 million. Sell-side analysts predict that Nuvation Bio will post -0.36 EPS for the current year.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.