Nuvation Bio’s (NUVB) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report published on Monday morning,Benzinga reports. JMP Securities currently has a $6.00 price objective on the stock.

A number of other analysts have also issued reports on NUVB. Citizens Jmp assumed coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $6.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Thursday, May 15th. Citigroup assumed coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued an “outperform” rating on the stock. HC Wainwright decreased their price target on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Jones Trading assumed coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and an average price target of $7.83.

Nuvation Bio Stock Up 10.1%

Shares of NUVB stock opened at $2.34 on Monday. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $3.97. The stock has a market cap of $794.51 million, a P/E ratio of -1.08 and a beta of 1.42. The business has a fifty day simple moving average of $2.05 and a 200-day simple moving average of $2.32.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The company had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $0.42 million. On average, sell-side analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current year.

Insider Transactions at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the sale, the insider now owns 12,000 shares in the company, valued at approximately $30,000. The trade was a 62.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Hung bought 300,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $1.62 per share, with a total value of $486,000.00. Following the acquisition, the chief executive officer now directly owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This trade represents a 0.51% increase in their position. The disclosure for this purchase can be found here. Company insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nuvation Bio by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock worth $191,000 after acquiring an additional 4,608 shares in the last quarter. Two Sigma Investments LP lifted its position in Nuvation Bio by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company’s stock worth $3,062,000 after acquiring an additional 5,925 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Nuvation Bio by 11.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 60,951 shares of the company’s stock worth $107,000 after acquiring an additional 6,403 shares in the last quarter. Pale Fire Capital SE lifted its position in Nuvation Bio by 17.0% during the 1st quarter. Pale Fire Capital SE now owns 45,642 shares of the company’s stock worth $80,000 after acquiring an additional 6,642 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Nuvation Bio by 27.0% during the 4th quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock worth $83,000 after acquiring an additional 6,673 shares in the last quarter. 61.67% of the stock is owned by institutional investors and hedge funds.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.