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

Nuvation Bio (NYSE:NUVB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

NUVB has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Truist Financial lifted their price target on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Nuvation Bio in a research note on Tuesday, May 5th. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada decreased their target price on shares of Nuvation Bio from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

Nuvation Bio Stock Performance

NUVB stock opened at $5.67 on Monday. The firm has a 50 day simple moving average of $5.03 and a 200 day simple moving average of $5.56. Nuvation Bio has a 52 week low of $2.03 and a 52 week high of $9.75. The stock has a market cap of $1.98 billion, a P/E ratio of -13.20 and a beta of 1.52. 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 released its earnings results 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. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. The company had revenue of $83.23 million during the quarter, compared to the consensus estimate of $66.22 million. Research analysts anticipate that Nuvation Bio will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kerry Wentworth sold 63,000 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.02, for a total value of $379,260.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the sale, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $90,360. This represents a 73.53% 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. Insiders sold 322,418 shares of company stock worth $1,854,612 in the last three months. 30.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently bought and sold shares of the company. Capricorn Fund Managers Ltd acquired a new stake in Nuvation Bio in the 4th quarter valued at approximately $14,236,000. JPMorgan Chase & Co. boosted its position in shares of Nuvation Bio by 472.8% in the third quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock valued at $2,500,000 after acquiring an additional 557,656 shares during the period. Ishara Investments LP acquired a new stake in shares of Nuvation Bio in the fourth quarter worth $3,584,000. ACT Capital Management LLC acquired a new stake in shares of Nuvation Bio in the fourth quarter worth $5,470,000. Finally, AMI Asset Management Corp bought a new position in Nuvation Bio during the fourth quarter worth $1,133,000. 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.