Nuvation Bio (NYSE:NUVB) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Nuvation Bio (NYSE:NUVB) in a report released on Tuesday, MarketBeat.com reports. The firm issued an overweight rating and a $13.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Zacks Research raised shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a research report on Thursday, July 23rd. Truist Financial raised their target price on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada upped their price target on Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Nine equities research 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.00.

Nuvation Bio Price Performance

Shares of NUVB opened at $6.86 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. The firm has a market cap of $2.41 billion, a PE ratio of -15.59 and a beta of 1.52. The firm’s 50 day moving average price is $6.07 and its 200 day moving average price is $5.30. Nuvation Bio has a twelve month low of $2.68 and a twelve month high of $9.75.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%.The business had revenue of $31.69 million during the quarter, compared to the consensus estimate of $27.03 million. As a group, research analysts expect that Nuvation Bio will post -0.34 EPS for the current fiscal year.

Insider Activity

In related news, insider Stacy Markel sold 125,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the sale, the insider directly owned 32,591 shares of the company’s stock, valued at approximately $196,523.73. This represents a 79.32% decrease in their position. The transaction was disclosed in a 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 63,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total transaction of $379,260.00. Following the completion of the transaction, the insider owned 53,000 shares in the company, valued at $319,060. The trade was a 54.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 235,668 shares of company stock valued at $1,419,495 over the last three months. Corporate insiders own 30.11% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rangeley Capital LLC bought a new position in shares of Nuvation Bio in the second quarter worth about $25,000. Parallel Advisors LLC boosted its stake in Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares during the period. Cetera Investment Advisers bought a new stake in Nuvation Bio during the 2nd quarter valued at approximately $29,000. Sanctuary Advisors LLC acquired a new stake in Nuvation Bio in the 2nd quarter valued at approximately $32,000. Finally, Captrust Financial Advisors acquired a new stake in Nuvation Bio in the 2nd quarter valued at approximately $32,000. 61.67% of the stock is 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.