HC Wainwright Boosts Nuvation Bio (NYSE:NUVB) Price Target to $21.00

Nuvation Bio (NYSE:NUVB) had its price objective raised by investment analysts at HC Wainwright from $17.00 to $21.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 225.83% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Nuvation Bio in a research note on Wednesday. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday, June 10th. Truist Financial boosted their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Zacks Research raised shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Eight 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.88.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $6.45 on Monday. Nuvation Bio has a 12 month low of $2.18 and a 12 month high of $9.75. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -14.99 and a beta of 1.52. The business’s 50 day simple moving average is $5.39 and its 200-day simple moving average is $5.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.44 and a quick ratio of 7.24.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. As a group, equities analysts forecast that Nuvation Bio will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kerry Wentworth sold 63,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.02, for a total transaction of $379,260.00. Following the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at approximately $319,060. The trade was a 54.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philippe Sauvage sold 47,668 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the sale, the chief financial officer owned 12,673 shares in the company, valued at $76,164.73. This represents a 79.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 235,668 shares of company stock worth $1,419,495 in the last ninety days. 30.11% of the stock is owned by corporate insiders.

Institutional Trading of Nuvation Bio

Hedge funds have recently made changes to their positions in the stock. Rangeley Capital LLC bought a new stake in shares of Nuvation Bio in the second quarter worth $25,000. Parallel Advisors LLC boosted its stake in Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after acquiring an additional 2,597 shares during the last quarter. Cetera Investment Advisers acquired a new position in Nuvation Bio during the 2nd quarter worth $29,000. Captrust Financial Advisors acquired a new position in Nuvation Bio during the 2nd quarter worth $32,000. Finally, KBC Group NV bought a new stake in shares of Nuvation Bio in the 1st quarter worth about $37,000. Institutional investors and hedge funds 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.