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

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) has received an average rating of "Buy" from the five analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.17.

Several equities analysts have recently weighed in on the company. Citizens Jmp started coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 target price on the stock. Wall Street Zen lowered Nuvation Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Jones Trading initiated coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price on the stock. JMP Securities reiterated a "market outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 25th. Finally, Citigroup initiated coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued an "outperform" rating on the stock.

Nuvation Bio Stock Down 0.5%

NYSE NUVB traded down $0.01 during trading on Monday, hitting $2.08. 6,141,603 shares of the stock traded hands, compared to its average volume of 2,970,148. The company has a market capitalization of $707.75 million, a P/E ratio of -0.89 and a beta of 1.33. The firm has a 50-day simple moving average of $2.14 and a 200-day simple moving average of $2.21. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $3.97.

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

Insider Buying and Selling at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the transaction, the insider directly owned 12,000 shares of the company's stock, valued at approximately $30,000. The trade was a 62.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 29.93% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. FMR LLC increased its position in Nuvation Bio by 54.9% during the 4th quarter. FMR LLC now owns 45,285,572 shares of the company's stock valued at $120,460,000 after buying an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. increased its position in Nuvation Bio by 45.4% during the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock valued at $41,849,000 after buying an additional 4,913,820 shares in the last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 922,503 shares in the last quarter. MPM Bioimpact LLC increased its position in Nuvation Bio by 11.7% during the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company's stock valued at $8,188,000 after buying an additional 488,065 shares in the last quarter. Finally, Millennium Management LLC increased its position in Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock valued at $6,642,000 after buying an additional 1,298,131 shares in the last quarter. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Company Profile

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.