Nuvation Bio (NYSE:NUVB) Reaches New 52-Week High - Here's Why

Key Points

• Nuvation Bio's stock price reached a new 52-week high of $4.21, showing a significant increase from its previous close of $3.70, with a trading volume of over 13 million shares.
• Analyst ratings for Nuvation Bio vary, with consensus being "Moderate Buy" and a price target averaging $7.86, though one analyst has rated it as a "Strong Buy."
• The company reported a revenue of $4.83 million for the quarter, surpassing expectations of $0.42 million, despite a negative earnings per share of ($0.17).

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $4.21 and last traded at $4.21, with a volume of 13141450 shares traded. The stock had previously closed at $3.70.

Analyst Ratings Changes

Several research analysts recently commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price target on shares of Nuvation Bio in a research note on Wednesday, June 25th. Wall Street Zen upgraded Nuvation Bio from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Royal Bank Of Canada upped their price objective on Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Jefferies Financial Group initiated coverage on Nuvation Bio in a research note on Tuesday, September 30th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nuvation Bio has a consensus rating of "Moderate Buy" and a consensus price target of $7.86.

Nuvation Bio Price Performance

The company has a current ratio of 9.39, a quick ratio of 9.38 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $3.29 and a two-hundred day moving average price of $2.55. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.67 and a beta of 1.48.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.17). The business had revenue of $4.83 million for the quarter, compared to analysts' expectations of $0.42 million. Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%. As a group, research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Institutional Trading of Nuvation Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Merit Financial Group LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $55,000. Sapient Capital LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $116,000. HBK Sorce Advisory LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $42,000. CWM LLC raised its position in shares of Nuvation Bio by 169.5% during the 3rd quarter. CWM LLC now owns 102,328 shares of the company's stock worth $379,000 after purchasing an additional 64,365 shares during the period. Finally, Brighton Jones LLC grew its holdings in Nuvation Bio by 18.7% in the 3rd quarter. Brighton Jones LLC now owns 73,163 shares of the company's stock worth $271,000 after buying an additional 11,502 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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