Nuvation Bio’s (NUVB) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research report released on Tuesday,Benzinga reports. Wedbush currently has a $11.00 price target on the stock.

Several other research firms also recently weighed in on NUVB. HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Nuvation Bio in a report on Tuesday. UBS Group cut their price objective on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Truist Financial set a $13.00 price objective on Nuvation Bio in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada raised their price objective on Nuvation Bio from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Nuvation Bio Trading Down 4.5%

NYSE NUVB opened at $4.82 on Tuesday. The company has a quick ratio of 6.81, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. Nuvation Bio has a twelve month low of $1.57 and a twelve month high of $9.75. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -11.20 and a beta of 1.51. The business’s fifty day moving average is $4.68 and its 200 day moving average is $5.95.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%.The company had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. As a group, sell-side analysts expect that Nuvation Bio will post -0.51 EPS for the current fiscal year.

Insider Activity

In other Nuvation Bio news, insider Dongfang Liu sold 50,000 shares of Nuvation Bio stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the transaction, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $90,360. The trade was a 73.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 200,000 shares of Nuvation Bio stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $4.52, for a total value of $904,000.00. Following the transaction, the insider directly owned 53,000 shares in the company, valued at $239,560. The trade was a 79.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 286,750 shares of company stock worth $1,339,118 over the last ninety days. Company insiders own 30.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NUVB. Rangeley Capital LLC acquired a new position in Nuvation Bio during the 2nd quarter worth about $25,000. Parallel Advisors LLC raised its position in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Nuvation Bio in the 2nd quarter worth about $29,000. Captrust Financial Advisors bought a new position in shares of Nuvation Bio in the 2nd quarter worth about $32,000. Finally, KBC Group NV bought a new position in shares of Nuvation Bio in the 1st quarter worth about $37,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

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.