Nuvation Bio (NYSE:NUVB) Earns “Outperform” Rating from Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report issued on Tuesday,Benzinga reports. They currently have a $11.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 134.84% from the company’s previous close.

Several other research analysts also recently commented on NUVB. Truist Financial set a $13.00 price objective on Nuvation Bio in a research note on Tuesday, January 27th. Royal Bank Of Canada raised their target price on Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. UBS Group cut their target price on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.63.

Nuvation Bio Price Performance

NYSE NUVB traded up $0.27 during mid-day trading on Tuesday, hitting $4.68. The stock had a trading volume of 2,596,516 shares, compared to its average volume of 4,828,461. The firm’s 50 day moving average is $4.72 and its 200 day moving average is $5.92. Nuvation Bio has a twelve month low of $1.57 and a twelve month 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 has a market capitalization of $1.63 billion, a price-to-earnings ratio of -7.89 and a beta of 1.51.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data 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 firm had revenue of $83.23 million during the quarter, compared to the consensus estimate of $65.73 million. Equities research analysts forecast that Nuvation Bio will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In related news, insider Dongfang Liu sold 50,000 shares of the firm’s 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 completion of the sale, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $90,360. This trade represents a 73.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 36,750 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.01, for a total value of $184,117.50. Following the sale, the insider directly owned 53,000 shares of the company’s stock, valued at $265,530. The trade was a 40.95% decrease in their ownership of the stock. 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. Insiders have sold a total of 286,750 shares of company stock valued at $1,339,118 over the last three months. Corporate insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

A number of hedge funds and other institutional investors have recently modified their holdings of NUVB. Price T Rowe Associates Inc. MD increased its position in shares of Nuvation Bio by 852.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock worth $24,270,000 after purchasing an additional 2,424,109 shares during the last quarter. Armistice Capital LLC increased its position in shares of Nuvation Bio by 359.2% during the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock worth $8,495,000 after purchasing an additional 1,796,000 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Nuvation Bio during the 4th quarter worth about $14,236,000. Millennium Management LLC increased its position in shares of Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the last quarter. Finally, SymBiosis Capital Partners LLC acquired a new stake in shares of Nuvation Bio during the 4th quarter worth about $11,200,000. 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.