Nuvation Bio (NYSE:NUVB) Earns Market Outperform Rating from Analysts at JMP Securities

JMP Securities began coverage on shares of Nuvation Bio (NYSE:NUVB - Free Report) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage issued a market outperform rating and a $6.00 price target on the stock.

Other analysts also recently issued reports about the company. Wedbush reiterated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a report on Thursday, March 27th. HC Wainwright cut their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Finally, Jones Trading started coverage on Nuvation Bio in a report on Wednesday, March 12th. They set a "buy" rating and a $10.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nuvation Bio has a consensus rating of "Buy" and a consensus target price of $7.83.

Nuvation Bio Trading Up 1.8 %

NUVB traded up $0.04 on Wednesday, reaching $2.17. The stock had a trading volume of 1,080,262 shares, compared to its average volume of 2,107,408. The firm has a 50-day moving average of $1.95 and a 200-day moving average of $2.37. The company has a market capitalization of $734.59 million, a price-to-earnings ratio of -1.00 and a beta of 1.47. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $3.97.

Insider Activity at Nuvation Bio

In other news, CEO David Hung purchased 200,000 shares of the company's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $1.66 per share, with a total value of $332,000.00. Following the transaction, the chief executive officer now owns 58,481,054 shares of the company's stock, valued at $97,078,549.64. This represents a 0.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 29.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company's stock valued at $9,541,000 after buying an additional 191,031 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Nuvation Bio by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company's stock worth $9,227,000 after purchasing an additional 196,247 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Nuvation Bio by 479.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company's stock worth $1,014,000 after acquiring an additional 366,429 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Nuvation Bio in the 4th quarter valued at approximately $1,042,000. Finally, Palumbo Wealth Management LLC raised its position in Nuvation Bio by 297.4% in the fourth quarter. Palumbo Wealth Management LLC now owns 65,360 shares of the company's stock valued at $174,000 after purchasing an additional 48,914 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.