Zacks Research Upgrades Nuvation Bio (NYSE:NUVB) to “Hold”

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

NUVB has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research report on Tuesday, May 5th. Truist Financial raised their price target on Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.38.

Nuvation Bio Price Performance

NYSE:NUVB opened at $5.67 on Monday. Nuvation Bio has a 52 week low of $2.03 and a 52 week high of $9.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.24 and a current ratio of 7.44. The firm’s 50-day simple moving average is $5.03 and its 200 day simple moving average is $5.56. The firm 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 posted 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 firm had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. As a group, sell-side analysts predict that Nuvation Bio will post -0.39 earnings per share for the current year.

Insider Activity at Nuvation Bio

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, Director Robert Mashal purchased 25,000 shares of Nuvation Bio stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the transaction, the director directly owned 225,000 shares in the company, valued at approximately $1,064,250. The trade was a 12.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 322,418 shares of company stock valued at $1,854,612 in the last quarter. Insiders own 30.11% of the company’s stock.

Institutional Trading of Nuvation Bio

Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its holdings in Nuvation Bio by 8.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock worth $4,423,000 after purchasing an additional 78,946 shares during the last quarter. Tanaka Capital Management Inc. boosted its stake in shares of Nuvation Bio by 7.2% in the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock valued at $3,869,000 after purchasing an additional 60,220 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Nuvation Bio during the first quarter worth $187,000. Amundi increased its position in shares of Nuvation Bio by 181.5% during the first quarter. Amundi now owns 36,072 shares of the company’s stock worth $155,000 after buying an additional 23,258 shares during the period. Finally, California State Teachers Retirement System raised its stake in Nuvation Bio by 42.2% during the first quarter. California State Teachers Retirement System now owns 303,784 shares of the company’s stock worth $1,303,000 after buying an additional 90,114 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors.

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.