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

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $11.00 price objective on the stock.

NUVB has been the topic of several other reports. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Nuvation Bio in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Nuvation Bio in a research note on Tuesday, May 5th. Finally, Zacks Research upgraded Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.38.

Nuvation Bio Stock Performance

NUVB stock opened at $6.45 on Thursday. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -14.99 and a beta of 1.52. The firm has a 50-day simple moving average of $5.39 and a two-hundred day simple moving average of $5.30. Nuvation Bio has a one year low of $2.18 and a one year 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.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $83.23 million for 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%. On average, equities analysts forecast that Nuvation Bio will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In related news, 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 of the company’s stock, valued at $319,060. This trade represents a 54.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal purchased 25,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $4.73 per share, for a total transaction of $118,250.00. Following the completion of the acquisition, the director owned 225,000 shares of the company’s stock, valued at $1,064,250. The trade was a 12.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 235,668 shares of company stock worth $1,419,495. 30.11% of the stock is currently owned by company insiders.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently modified their holdings of NUVB. Price T Rowe Associates Inc. MD raised its position in Nuvation Bio by 852.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company’s stock valued at $24,270,000 after acquiring an additional 2,424,109 shares in the last quarter. Armistice Capital LLC lifted its holdings in Nuvation Bio by 359.2% in the third quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after acquiring an additional 1,796,000 shares during the period. Capricorn Fund Managers Ltd purchased a new stake in Nuvation Bio in the 4th quarter worth approximately $14,236,000. Millennium Management LLC boosted its position in Nuvation Bio by 52.4% in 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 in the last quarter. Finally, SymBiosis Capital Partners LLC acquired a new stake in shares of Nuvation Bio during the 4th quarter worth approximately $11,200,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.