Nuvation Bio (NYSE:NUVB) Rating Increased to Hold at Zacks Research

Nuvation Bio (NYSE:NUVB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Royal Bank Of Canada lowered their target price on shares of Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.38.

Nuvation Bio Trading Up 1.3%

Nuvation Bio stock opened at $5.67 on Monday. The business has a 50 day moving average price of $5.03 and a two-hundred day moving average price of $5.56. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. Nuvation Bio has a 12 month low of $2.03 and a 12 month high of $9.75. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -13.20 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $83.23 million for the quarter, compared to analysts’ expectations of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. As a group, equities analysts forecast that Nuvation Bio will post -0.39 EPS for the current year.

Insider Activity

In other news, insider Kerry Wentworth sold 63,000 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total value of $379,260.00. Following the completion of the transaction, the insider owned 53,000 shares in the company, valued at approximately $319,060. The trade was a 54.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 18,000 shares in the company, valued at approximately $90,360. This represents a 73.53% 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 three months, insiders sold 322,418 shares of company stock valued at $1,854,612. Corporate insiders own 30.11% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 acquiring an additional 4,608 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Nuvation Bio by 52.4% in the 1st 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 during the period. Envestnet Asset Management Inc. bought a new position in shares of Nuvation Bio in the 2nd quarter worth $92,000. Creative Planning grew its stake in shares of Nuvation Bio by 267.1% during the second quarter. Creative Planning now owns 39,288 shares of the company’s stock worth $77,000 after purchasing an additional 28,585 shares during the period. Finally, Cetera Investment Advisers bought a new stake in Nuvation Bio in the second quarter valued at about $29,000. 61.67% of the stock is owned by institutional investors.

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.