Hennion & Walsh Asset Management Inc. Has $1.26 Million Stock Holdings in Nuvation Bio Inc. $NUVB

Hennion & Walsh Asset Management Inc. raised its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 69.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 339,271 shares of the company’s stock after buying an additional 139,633 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.10% of Nuvation Bio worth $1,255,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. HBK Sorce Advisory LLC purchased a new stake in shares of Nuvation Bio during the third quarter worth $42,000. Highline Wealth Partners LLC acquired a new position in Nuvation Bio in the 2nd quarter worth about $25,000. Rangeley Capital LLC purchased a new stake in shares of Nuvation Bio during the 2nd quarter worth about $25,000. Merit Financial Group LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter valued at about $55,000. Finally, Cetera Investment Advisers bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $29,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. HC Wainwright raised their price objective on shares of Nuvation Bio from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday, November 4th. Royal Bank Of Canada lifted their price objective on shares of Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Citizens Jmp increased their target price on shares of Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 20th. Finally, Jefferies Financial Group assumed coverage on shares of Nuvation Bio in a research report on Tuesday, September 30th. They set a “buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nuvation Bio has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Insider Transactions at Nuvation Bio

In related news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dongfang Liu sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $7.82, for a total value of $1,173,000.00. Following the completion of the sale, the insider directly owned 18,000 shares in the company, valued at $140,760. This trade 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 worth $2,050,800 over the last quarter. 29.93% of the stock is currently owned by corporate insiders.

Nuvation Bio Price Performance

NYSE NUVB opened at $8.03 on Friday. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $7.58 and a 200 day simple moving average of $4.60. The company has a market cap of $2.75 billion, a P/E ratio of -12.55 and a beta of 1.54. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $9.75.

Nuvation Bio (NYSE:NUVB) last announced 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 net margin of 813.07% and a negative return on equity of 54.99%. The firm had revenue of $13.12 million for the quarter, compared to the consensus estimate of $7.48 million. On average, sell-side analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current year.

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.