UBS Group Upgrades Nuvation Bio (NYSE:NUVB) to “Hold”

Nuvation Bio (NYSE:NUVB) was upgraded by investment analysts at UBS Group to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on NUVB. HC Wainwright upped their target price on shares of Nuvation Bio from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a report on Wednesday, October 8th. Truist Financial set a $11.00 price objective on Nuvation Bio in a research note on Monday, November 24th. Jefferies Financial Group assumed coverage on Nuvation Bio in a report on Tuesday, September 30th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $6.00 target price on shares of Nuvation Bio in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $8.46 on Wednesday. The firm has a market capitalization of $2.90 billion, a PE ratio of -13.21 and a beta of 1.54. 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 has a 1-year low of $1.54 and a 1-year high of $9.75. The business’s 50 day moving average is $7.52 and its 200-day moving average is $4.56.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.The firm had revenue of $13.12 million during the quarter, compared to analysts’ expectations of $7.48 million. Sell-side analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction on Monday, October 27th. The stock was 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 this hyperlink. Also, insider Dongfang Liu sold 150,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the completion of the transaction, the insider directly owned 18,000 shares in the company, valued at approximately $140,760. This represents a 89.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 320,000 shares of company stock valued at $2,050,800 in the last quarter. 29.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Nuvation Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Nuvation Bio by 472.8% in the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock valued at $2,500,000 after buying an additional 557,656 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in Nuvation Bio in the 3rd quarter valued at about $39,000. CIBC Bancorp USA Inc. acquired a new stake in Nuvation Bio in the 3rd quarter valued at about $98,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Nuvation Bio by 811.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 39,950 shares of the company’s stock worth $148,000 after acquiring an additional 35,568 shares during the last quarter. Finally, Connective Capital Management LLC acquired a new position in shares of Nuvation Bio during the third quarter worth approximately $369,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.