Nuvation Bio’s (NUVB) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp reiterated their market outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report issued on Wednesday,Benzinga reports. The firm currently has a $10.00 price target on the stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. assumed coverage on Nuvation Bio in a research note on Tuesday, August 18th. They set an “overweight” rating and a $13.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a report on Wednesday. Truist Financial upped their price target on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Cantor Fitzgerald initiated coverage on shares of Nuvation Bio in a report on Friday, August 21st. They issued an “overweight” rating on the stock. Finally, Royal Bank Of Canada raised their price objective on shares of Nuvation Bio from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.00.

Nuvation Bio Stock Down 3.9%

Nuvation Bio stock opened at $5.83 on Wednesday. Nuvation Bio has a 1-year low of $2.99 and a 1-year high of $9.75. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -13.26 and a beta of 1.52. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. The firm has a 50 day simple moving average of $6.44 and a 200 day simple moving average of $5.42.

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

Insiders Place Their Bets

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total value of $709,000.00. Following the sale, the insider owned 100,000 shares of the company’s stock, valued at $709,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of Nuvation Bio stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total value of $753,750.00. Following the sale, the insider owned 32,591 shares of the company’s stock, valued at approximately $196,523.73. This trade represents a 79.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 335,668 shares of company stock worth $2,128,495 over the last three months. Corporate insiders own 30.11% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently bought and sold shares of NUVB. NewEdge Advisors LLC lifted its position in Nuvation Bio by 19.5% during the second quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock valued at $6,996,000 after purchasing an additional 200,621 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Nuvation Bio by 75.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock valued at $6,175,000 after buying an additional 619,725 shares in the last quarter. ACT Capital Management LLC purchased a new stake in shares of Nuvation Bio during the 4th quarter valued at $5,470,000. Wellington Management Group LLP lifted its holdings in shares of Nuvation Bio by 6.5% during the 2nd quarter. Wellington Management Group LLP now owns 715,781 shares of the company’s stock worth $4,066,000 after acquiring an additional 43,637 shares during the last quarter. Finally, Tanaka Capital Management Inc. lifted its holdings in shares of Nuvation Bio by 7.2% during the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock worth $3,869,000 after acquiring an additional 60,220 shares during the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.