Nuvation Bio (NYSE:NUVB) Hits New 12-Month High – Time to Buy?

Nuvation Bio Inc. (NYSE:NUVB) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $6.54 and last traded at $6.6230, with a volume of 8980583 shares. The stock had previously closed at $4.80.

Analyst Ratings Changes

Several equities research analysts have recently commented on NUVB shares. Wall Street Zen upgraded shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Nuvation Bio in a report on Friday, September 19th. JMP Securities set a $8.00 price objective on Nuvation Bio in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada lifted their target price on Nuvation Bio from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Nuvation Bio Trading Up 35.2%

The firm has a market cap of $2.22 billion, a PE ratio of -10.14 and a beta of 1.49. The company has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $2.96. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The firm had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. As a group, sell-side analysts forecast that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total value of $502,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently modified their holdings of the business. Highline Wealth Partners LLC acquired a new position in Nuvation Bio in the 2nd quarter worth about $25,000. Rangeley Capital LLC acquired a new stake in Nuvation Bio in the second quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in shares of Nuvation Bio by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after buying an additional 2,597 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $29,000. Finally, Captrust Financial Advisors acquired a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.