HC Wainwright Issues Positive Forecast for Nuvation Bio (NYSE:NUVB) Stock Price

Nuvation Bio (NYSE:NUVB) had its price objective increased by HC Wainwright from $17.00 to $21.00 in a research note published on Monday, MarketBeat reports. HC Wainwright currently has a buy rating on the stock.

NUVB has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Friday, July 17th. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nuvation Bio in a research note on Wednesday, July 22nd. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a report on Thursday, July 23rd. Finally, Truist Financial increased their price target on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nuvation Bio has an average rating of “Moderate Buy” and an average price target of $12.88.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $6.64 on Monday. Nuvation Bio has a 12-month low of $2.18 and a 12-month high of $9.75. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $5.44 and its two-hundred day moving average price is $5.27. The stock has a market cap of $2.31 billion, a PE ratio of -15.45 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, May 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. The firm had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $66.22 million. As a group, analysts expect that Nuvation Bio will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In related news, CFO Philippe Sauvage sold 47,668 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the transaction, the chief financial officer owned 12,673 shares in the company, valued at $76,164.73. This trade represents a 79.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total transaction of $753,750.00. Following the sale, the insider directly owned 32,591 shares in the company, valued at $196,523.73. The trade was a 79.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 235,668 shares of company stock worth $1,419,495. 30.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently modified their holdings of the business. Tema ETFs LLC grew its stake in shares of Nuvation Bio by 0.7% in the second quarter. Tema ETFs LLC now owns 395,313 shares of the company’s stock worth $2,245,000 after purchasing an additional 2,559 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Nuvation Bio during the 2nd quarter worth $732,000. NewEdge Advisors LLC raised its position in Nuvation Bio by 8.3% during the 1st quarter. NewEdge Advisors LLC now owns 1,031,112 shares of the company’s stock worth $4,423,000 after purchasing an additional 78,946 shares during the last quarter. Tanaka Capital Management Inc. raised its position in Nuvation Bio by 7.2% during the 1st quarter. Tanaka Capital Management Inc. now owns 901,825 shares of the company’s stock worth $3,869,000 after purchasing an additional 60,220 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in Nuvation Bio during the 1st quarter worth about $187,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.