Nuvation Bio (NYSE:NUVB) Earns Buy Rating from HC Wainwright

Nuvation Bio (NYSE:NUVB)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $17.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 282.02% from the stock’s previous close.

NUVB has been the topic of several other research reports. UBS Group cut their target price on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wedbush reiterated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Truist Financial set a $13.00 price target on Nuvation Bio in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada increased their price target on Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.63.

Nuvation Bio Stock Down 0.9%

Shares of Nuvation Bio stock opened at $4.45 on Tuesday. Nuvation Bio has a one year low of $1.57 and a one year high of $9.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.95 and a quick ratio of 6.81. The stock’s 50-day moving average is $4.72 and its 200 day moving average is $5.92. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -7.42 and a beta of 1.51.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%.The company had revenue of $83.23 million for the quarter, compared to analyst estimates of $65.73 million. Equities research analysts anticipate that Nuvation Bio will post -0.47 EPS for the current year.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 50,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the transaction, the insider owned 18,000 shares in the company, valued at approximately $90,360. This represents a 73.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 200,000 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $4.52, for a total value of $904,000.00. Following the completion of the transaction, the insider owned 53,000 shares in the company, valued at approximately $239,560. The trade was a 79.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 286,750 shares of company stock worth $1,339,118. Corporate insiders own 30.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nuvation Bio by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after purchasing an additional 4,608 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Nuvation Bio in the second quarter valued at approximately $92,000. Creative Planning lifted its holdings in shares of Nuvation Bio by 267.1% in the second quarter. Creative Planning now owns 39,288 shares of the company’s stock valued at $77,000 after purchasing an additional 28,585 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Nuvation Bio in the second quarter valued at approximately $29,000. Institutional investors own 61.67% of the company’s stock.

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.