Nuvation Bio (NYSE:NUVB) Given Market Outperform Rating at Citizens Jmp

Nuvation Bio (NYSE:NUVB)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at Citizens Jmp in a report issued on Wednesday, Benzinga reports. They presently have a $10.00 price objective on the stock. Citizens Jmp’s price objective points to a potential upside of 72.56% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a report on Wednesday. Truist Financial upped their price target 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. HC Wainwright boosted their target price on Nuvation Bio from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Cantor Fitzgerald assumed coverage on shares of Nuvation Bio in a research note on Friday, August 21st. They issued an “overweight” rating for the company. Finally, Zacks Research upgraded Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $5.79 on Wednesday. The stock has a fifty day moving average of $6.44 and a 200-day moving average of $5.42. The company has a market capitalization of $2.03 billion, a PE ratio of -13.17 and a beta of 1.52. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. Nuvation Bio has a one year low of $2.99 and a one year high of $9.75.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. As a group, equities analysts anticipate that Nuvation Bio will post -0.34 EPS for the current fiscal year.

Insider Activity

In related news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total transaction of $709,000.00. Following the sale, the insider directly owned 100,000 shares of the company’s stock, valued at approximately $709,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Philippe Sauvage sold 47,668 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the completion of the sale, the chief financial officer directly owned 12,673 shares of the company’s stock, valued at $76,164.73. The trade was a 79.00% 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. Over the last quarter, insiders sold 335,668 shares of company stock worth $2,128,495. Corporate insiders own 30.11% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

A number of large investors have recently made changes to their positions in the company. KBC Group NV bought a new position in Nuvation Bio in the 1st quarter valued at approximately $37,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Nuvation Bio in the first quarter valued at approximately $43,000. Tortoise Investment Management LLC bought a new stake in Nuvation Bio in the second quarter valued at approximately $78,000. Revisor Wealth Management LLC grew its stake in Nuvation Bio by 40.3% in the first quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company’s stock worth $79,000 after purchasing an additional 5,317 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new stake in Nuvation Bio during the 2nd quarter valued at $83,000. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

Nuvation Bio Inc is a biopharmaceutical company focused on discovering and developing medicines for patients with cancer. The company applies drug discovery, translational research and clinical development capabilities to pursue therapies for cancers with significant unmet medical needs.

Nuvation Bio’s pipeline has included investigational small-molecule oncology therapies, including NUV-422, a cyclin-dependent kinase inhibitor designed to target pathways involved in cancer cell growth.