Nuvation Bio (NYSE:NUVB) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of Nuvation Bio (NYSE:NUVB) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating on the stock.

A number of other research analysts have also weighed in on NUVB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. Citizens Jmp raised their target price on Nuvation Bio from $6.00 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 4th. Jefferies Financial Group started coverage on Nuvation Bio in a research report on Tuesday, September 30th. They set a “buy” rating and a $10.00 price target for the company. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Nuvation Bio in a report on Monday, October 13th. Finally, JMP Securities set a $8.00 target price on shares of Nuvation Bio in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nuvation Bio currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Nuvation Bio Stock Up 49.0%

Shares of NUVB opened at $7.15 on Tuesday. The firm has a market cap of $2.45 billion, a P/E ratio of -11.17 and a beta of 1.50. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $7.35. The stock’s 50 day moving average is $4.11 and its two-hundred day moving average is $2.99. 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 announced its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $13.12 million for the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%. Analysts predict that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In other Nuvation Bio news, insider Dongfang Liu sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $5.10, for a total transaction of $76,500.00. Following the completion of the transaction, the insider owned 18,000 shares in the company, valued at approximately $91,800. This represents a 45.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $5.02, for a total transaction of $502,000.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 160,000 shares of company stock valued at $797,800. Insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exome Asset Management LLC acquired a new position in shares of Nuvation Bio during the 1st quarter worth $170,000. American Century Companies Inc. lifted its position in shares of Nuvation Bio by 18.3% in the first quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock valued at $856,000 after acquiring an additional 75,362 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Nuvation Bio during the first quarter valued at $1,144,000. Los Angeles Capital Management LLC purchased a new stake in Nuvation Bio during the 2nd quarter worth about $207,000. Finally, Brighton Jones LLC purchased a new stake in Nuvation Bio during the 2nd quarter worth about $120,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.