Nuvation Bio (NYSE:NUVB) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $11.00 price objective on the stock.

A number of other equities analysts also recently weighed in on the company. UBS Group began coverage on Nuvation Bio in a research report on Wednesday, January 7th. They set a “neutral” rating and a $10.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. HC Wainwright decreased their price objective on shares of Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, January 12th. Citizens Jmp increased their price objective on shares of Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a research report on Thursday, November 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nuvation Bio has an average rating of “Moderate Buy” and an average target price of $11.50.

Nuvation Bio Price Performance

NYSE:NUVB opened at $5.73 on Tuesday. The stock has a market capitalization of $1.96 billion, a PE ratio of -8.95 and a beta of 1.51. Nuvation Bio has a 1-year low of $1.54 and a 1-year high of $9.75. The firm has a fifty day simple moving average of $7.45 and a 200 day simple moving average of $5.20. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14.

Insider Activity

In other Nuvation Bio news, insider Dongfang Liu sold 150,000 shares of Nuvation Bio stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $7.82, for a total transaction of $1,173,000.00. Following the transaction, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $140,760. The trade was a 89.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 220,000 shares of company stock worth $1,548,800 over the last ninety days. 29.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Nuvation Bio by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock worth $191,000 after purchasing an additional 4,608 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Nuvation Bio by 52.4% in 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 during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Nuvation Bio by 20.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,486 shares of the company’s stock valued at $71,000 after buying an additional 6,307 shares during the period. CWM LLC increased its holdings in Nuvation Bio by 296.4% during the second quarter. CWM LLC now owns 37,963 shares of the company’s stock worth $74,000 after buying an additional 28,387 shares during the last quarter. Finally, Brighton Jones LLC bought a new stake in Nuvation Bio in the second quarter worth about $120,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

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.