Nuvation Bio (NYSE:NUVB) Raised to “Hold” at Wall Street Zen

Nuvation Bio (NYSE:NUVB) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages also recently issued reports on NUVB. Citigroup assumed coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They issued an “outperform” rating on the stock. HC Wainwright decreased their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, May 15th. JMP Securities restated a “market outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a report on Monday, June 2nd. Finally, Citizens Jmp began coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nuvation Bio has a consensus rating of “Buy” and an average price target of $7.83.

Nuvation Bio Stock Performance

NUVB stock opened at $2.47 on Friday. The stock’s 50 day simple moving average is $2.10 and its 200 day simple moving average is $2.32. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $3.97. The company has a market cap of $840.45 million, a P/E ratio of -1.14 and a beta of 1.37.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The business had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $0.42 million. Equities analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

Insider Buying and Selling at Nuvation Bio

In related news, insider Dongfang Liu sold 20,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the sale, the insider now directly owns 12,000 shares of the company’s stock, valued at $30,000. This represents a 62.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Hung acquired 300,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $1.62 per share, for a total transaction of $486,000.00. Following the completion of the acquisition, the chief executive officer now owns 58,781,054 shares of the company’s stock, valued at $95,225,307.48. This trade represents a 0.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 29.93% of the company’s stock.

Institutional Trading of Nuvation Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Exome Asset Management LLC purchased a new stake in Nuvation Bio during the 1st quarter valued at about $170,000. Millennium Management LLC lifted its holdings in Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after buying an additional 1,298,131 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 buying an additional 4,608 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in Nuvation Bio during the 1st quarter worth approximately $1,144,000. Finally, MPM Bioimpact LLC lifted its holdings in Nuvation Bio by 11.7% during the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company’s stock worth $8,188,000 after buying an additional 488,065 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.