Citizens Jmp Issues Positive Forecast for Nuvation Bio (NYSE:NUVB) Stock Price

Nuvation Bio (NYSE:NUVB) had its price objective upped by Citizens Jmp from $6.00 to $8.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other research firms also recently weighed in on NUVB. Royal Bank Of Canada upped their price target on Nuvation Bio from $6.00 to $7.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. JMP Securities set a $8.00 price objective on Nuvation Bio in a report on Tuesday. Jefferies Financial Group assumed coverage on Nuvation Bio in a report on Tuesday, September 30th. They set a “buy” rating and a $10.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Nuvation Bio in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.57.

Nuvation Bio Trading Down 7.1%

NUVB stock opened at $4.81 on Tuesday. Nuvation Bio has a 1-year low of $1.54 and a 1-year high of $5.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.39 and a quick ratio of 9.38. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -7.51 and a beta of 1.50. The business has a 50 day simple moving average of $3.71 and a two-hundred day simple moving average of $2.77.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative return on equity of 51.94% and a negative net margin of 813.07%.The business had revenue of $13.12 million during the quarter, compared to the consensus estimate of $7.48 million. Research analysts anticipate that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total transaction of $502,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 29.93% of the company’s stock.

Institutional Trading of Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of NUVB. Millennium Management LLC raised 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 valued at $6,642,000 after buying an additional 1,298,131 shares during the period. Natixis purchased a new stake in Nuvation Bio during the 2nd quarter valued at $1,766,000. Marshall Wace LLP purchased a new stake in Nuvation Bio during the 2nd quarter valued at $1,699,000. Geode Capital Management LLC grew its position in Nuvation Bio by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock valued at $11,691,000 after acquiring an additional 864,194 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new stake in Nuvation Bio in the first quarter worth $1,144,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

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.