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

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

Several other equities research analysts have also recently commented on the company. Zacks Research raised Nuvation Bio from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. HC Wainwright boosted their target price on Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Cantor Fitzgerald started coverage on shares of Nuvation Bio in a research note on Friday, August 21st. They set an “overweight” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Nuvation Bio in a report on Tuesday, August 18th. They set an “overweight” rating and a $13.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price target on shares of Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.00.

Nuvation Bio Stock Performance

NUVB stock opened at $5.83 on Wednesday. The stock’s 50 day simple moving average is $6.44 and its 200 day simple moving average is $5.42. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. Nuvation Bio has a 12-month low of $2.99 and a 12-month high of $9.75. The stock has a market capitalization of $2.05 billion, a PE ratio of -13.26 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 forecast that Nuvation Bio will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, CFO Philippe Sauvage sold 47,668 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total value of $286,484.68. Following the transaction, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at approximately $76,164.73. This trade represents a 79.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the sale, the insider owned 32,591 shares of the company’s stock, valued at approximately $196,523.73. This represents a 79.32% 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. Over the last ninety days, insiders sold 335,668 shares of company stock worth $2,128,495. 30.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors have recently made changes to their positions in NUVB. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Nuvation Bio by 75.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock worth $6,175,000 after buying an additional 619,725 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Nuvation Bio by 19.5% during the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock valued at $6,996,000 after buying an additional 200,621 shares during the last quarter. Tanaka Capital Management Inc. increased its holdings in Nuvation Bio by 7.2% during the first quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock valued at $3,869,000 after buying an additional 60,220 shares during the last quarter. Wellington Management Group LLP raised its position in Nuvation Bio by 6.5% in the second quarter. Wellington Management Group LLP now owns 715,781 shares of the company’s stock worth $4,066,000 after acquiring an additional 43,637 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Nuvation Bio during the 2nd quarter worth $3,804,000. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

Nuvation Bio Inc is a biopharmaceutical company focused on discovering and developing medicines for patients with cancer. The company applies drug discovery, translational research and clinical development capabilities to pursue therapies for cancers with significant unmet medical needs.

Nuvation Bio’s pipeline has included investigational small-molecule oncology therapies, including NUV-422, a cyclin-dependent kinase inhibitor designed to target pathways involved in cancer cell growth.