Nuvation Bio (NYSE:NUVB) Reaches New 12-Month Low - Here's What Happened

Key Points

• Nuvation Bio shares hit a new 12-month low, trading as low as $3.95 on Friday, below the previous close of $4.06.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $12.89; ratings include nine Buys, two Holds, and one Sell.
• Latest quarterly revenue was $44.95 million, above analysts’ $34.39 million estimate, while adjusted earnings per share of -$0.12 matched consensus.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report)'s share price reached a new 52-week low during trading on Friday. The company traded as low as $3.95 and last traded at $3.9750, with a volume of 146,839 shares. The stock had previously closed at $4.06.

Analyst Ratings Changes

Several equities analysts have weighed in on NUVB shares. Wedbush reiterated an "outperform" rating and set a $11.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 16th. JPMorgan Chase & Co. started coverage on shares of Nuvation Bio in a research note on Tuesday, August 18th. They set an "overweight" rating and a $13.00 target price on the stock. Citizens Jmp restated a "market outperform" rating and issued a $10.00 target price on shares of Nuvation Bio in a report on Wednesday, September 16th. B. Riley Financial reaffirmed a "buy" rating on shares of Nuvation Bio in a research report on Friday, August 7th. Finally, Royal Bank Of Canada lowered their price target on Nuvation Bio from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Thursday, November 5th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nuvation Bio currently has an average rating of "Moderate Buy" and a consensus target price of $12.89.

Nuvation Bio Stock Up 0.4%

The business has a fifty day moving average price of $5.19 and a two-hundred day moving average price of $5.34. The company has a current ratio of 7.45, a quick ratio of 7.30 and a debt-to-equity ratio of 1.23. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -10.16 and a beta of 1.73.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). Nuvation Bio had a negative net margin of 67.38% and a negative return on equity of 45.69%. The business had revenue of $44.95 million during the quarter, compared to analysts' expectations of $34.39 million. On average, equities analysts predict that Nuvation Bio Inc. will post -0.37 earnings per share for the current year.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total value of $709,000.00. Following the completion of the sale, the insider owned 100,000 shares in the company, valued at $709,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV purchased a new stake in shares of Nuvation Bio during the first quarter worth $37,000. Sterling Capital Management LLC boosted its position in Nuvation Bio by 847.9% during the third quarter. Sterling Capital Management LLC now owns 8,389 shares of the company's stock valued at $47,000 after purchasing an additional 7,504 shares during the last quarter. GK Wealth Management LLC acquired a new stake in Nuvation Bio during the third quarter valued at $52,000. Emergent Wealth Advisors LLC purchased a new position in Nuvation Bio in the third quarter valued at about $67,000. Finally, Tortoise Investment Management LLC purchased a new position in Nuvation Bio in the second quarter valued at about $78,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

Nuvation Bio is a biopharmaceutical company focused on developing and commercializing treatments for cancer. Founded in 2018 by physician and biotechnology executive David Hung, the company is headquartered in New York and is led by Hung as founder and chief executive officer. Its commercial product, Ibtrozi (taletrectinib), is an oral targeted therapy approved in the United States for adults with ROS1-positive non-small cell lung cancer. Nuvation Bio also develops investigational oncology medicines, including therapies targeting specific genetic changes and other features of cancer.

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