Nuvation Bio (NYSE:NUVB) Rating Increased to Hold at UBS Group

UBS Group upgraded shares of Nuvation Bio (NYSE:NUVB) to a hold rating in a report issued on Wednesday,Zacks.com reports.

NUVB has been the topic of several other research reports. Jefferies Financial Group started coverage on Nuvation Bio in a research report on Tuesday, September 30th. They set a “buy” rating and a $10.00 price objective on the stock. Citizens Jmp raised their price target on shares of Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 20th. HC Wainwright lifted their price objective on shares of Nuvation Bio from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wedbush reissued an “outperform” rating and issued a $6.00 price objective on shares of Nuvation Bio in a report on Monday, October 13th. Finally, B. Riley began coverage on shares of Nuvation Bio in a report on Wednesday, November 19th. They set a “buy” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.50.

Nuvation Bio Trading Down 4.4%

Shares of NUVB stock opened at $8.46 on Wednesday. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $9.75. The company has a market capitalization of $2.90 billion, a PE ratio of -13.21 and a beta of 1.54. The firm has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $4.56. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $13.12 million for the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%. As a group, analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dongfang Liu sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $7.82, for a total transaction of $1,173,000.00. Following the sale, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $140,760. This trade represents a 89.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 320,000 shares of company stock worth $2,050,800 over the last quarter. Corporate insiders own 29.93% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of Nuvation Bio by 51.9% in 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 last quarter. Swiss Life Asset Management Ltd acquired a new stake in Nuvation Bio in the third quarter valued at about $39,000. Northwest Quadrant Wealth Management LLC bought a new position in Nuvation Bio in the third quarter valued at about $40,000. HBK Sorce Advisory LLC acquired a new position in Nuvation Bio during the third quarter worth about $42,000. Finally, Federated Hermes Inc. raised its stake in Nuvation Bio by 75.9% during the third quarter. Federated Hermes Inc. now owns 11,630 shares of the company’s stock worth $43,000 after acquiring an additional 5,020 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.