Wedbush Reiterates “Outperform” Rating for Nuvation Bio (NYSE:NUVB)

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating restated by Wedbush in a research report issued on Thursday,Benzinga reports. They currently have a $11.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 117.61% from the company’s current price.

NUVB has been the topic of several other research reports. Truist Financial set a $13.00 price objective on Nuvation Bio in a report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Thursday, January 22nd. Royal Bank Of Canada lifted their price objective on Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. HC Wainwright decreased their price objective on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, January 12th. Finally, UBS Group decreased their price objective on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.63.

Nuvation Bio Stock Up 5.1%

NUVB opened at $5.06 on Thursday. The company has a market cap of $1.76 billion, a P/E ratio of -8.42 and a beta of 1.60. The business’s 50-day moving average price is $4.88 and its 200-day moving average price is $5.82. The company has a current ratio of 6.95, a quick ratio of 6.81 and a debt-to-equity ratio of 0.15. Nuvation Bio has a 12 month low of $1.57 and a 12 month high of $9.75.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $41.87 million for the quarter, compared to the consensus estimate of $36.82 million. Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%. On average, equities analysts expect that Nuvation Bio will post -0.36 EPS for the current year.

Insider Activity

In related news, insider Kerry Wentworth sold 200,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $4.52, for a total value of $904,000.00. Following the sale, the insider directly owned 53,000 shares of the company’s stock, valued at $239,560. This trade represents a 79.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 29.93% of the stock is owned by insiders.

Institutional Trading of Nuvation Bio

Several large investors have recently modified their holdings of NUVB. Capricorn Fund Managers Ltd bought a new stake in Nuvation Bio during the 4th quarter valued at approximately $14,236,000. JPMorgan Chase & Co. boosted its position in Nuvation Bio by 472.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 675,600 shares of the company’s stock valued at $2,500,000 after acquiring an additional 557,656 shares in the last quarter. Aisling Capital Management LP boosted its position in Nuvation Bio by 16.5% during the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock valued at $10,954,000 after acquiring an additional 419,650 shares in the last quarter. CWM LLC boosted its position in Nuvation Bio by 169.5% during the 3rd quarter. CWM LLC now owns 102,328 shares of the company’s stock valued at $379,000 after acquiring an additional 64,365 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Nuvation Bio by 69.9% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 339,271 shares of the company’s stock valued at $1,255,000 after acquiring an additional 139,633 shares in the last quarter. 61.67% of the stock is owned by institutional investors.

About Nuvation Bio

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.