Nuvation Bio Inc. (NYSE:NUVB) Receives Average Rating of "Buy" from Brokerages

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) has been given a consensus rating of "Buy" by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.17.

A number of equities research analysts have issued reports on the stock. Citigroup initiated coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They issued an "outperform" rating for the company. Wedbush reaffirmed an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Wednesday, June 11th. Wall Street Zen downgraded Nuvation Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Citizens Jmp initiated coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price objective for the company. Finally, Jones Trading assumed coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They set a "buy" rating and a $10.00 target price for the company.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the transaction, the insider owned 12,000 shares of the company's stock, valued at $30,000. The trade was a 62.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 29.93% of the company's stock.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Nuvation Bio by 54.9% in the fourth quarter. FMR LLC now owns 45,285,572 shares of the company's stock worth $120,460,000 after purchasing an additional 16,046,701 shares during the period. Vanguard Group Inc. grew its position in Nuvation Bio by 45.4% during the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock worth $41,849,000 after buying an additional 4,913,820 shares in the last quarter. MPM Bioimpact LLC bought a new position in Nuvation Bio in the 4th quarter worth about $11,077,000. Millennium Management LLC raised its holdings in shares of Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock valued at $6,642,000 after acquiring an additional 1,298,131 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Nuvation Bio by 22.9% during the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock valued at $13,174,000 after acquiring an additional 922,503 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company's stock.

Nuvation Bio Stock Performance

NUVB traded down $0.06 during midday trading on Monday, reaching $2.32. 8,086,230 shares of the company were exchanged, compared to its average volume of 3,049,947. The company has a market cap of $787.71 million, a price-to-earnings ratio of -0.99 and a beta of 1.33. Nuvation Bio has a one year low of $1.54 and a one year high of $3.97. The company's fifty day moving average price is $2.14 and its 200 day moving average price is $2.20.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). Nuvation Bio had a negative return on equity of 44.14% and a negative net margin of 5,534.21%. The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. As a group, sell-side analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current fiscal 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.