Nuvation Bio (NYSE:NUVB) Earns "Outperform" Rating from Wedbush

Key Points

• Wedbush reiterated an "Outperform" rating on Nuvation Bio with an $11 price target — implying roughly a 135% upside — and the stock's analyst consensus is a "Moderate Buy" with an average target of $11.63.
• Nuvation Bio reported a quarterly EPS beat ($0.01 vs. -$0.03 est.) and higher-than-expected revenue ($83.2M), sending the stock up about 6.2% to $4.68, but the company remains unprofitable with a deeply negative net margin and sell-side forecasts calling for a negative full-year EPS.
• Insiders have recently sold significant stock (286,750 shares, ≈$1.34M in the last 90 days) under pre-arranged 10b5-1 plans, though insiders still hold about 30.1% of shares and institutions own roughly 61.7%.

Nuvation Bio (NYSE:NUVB - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Wedbush in a note issued to investors on Tuesday,Benzinga reports. They presently have a $11.00 price target on the stock. Wedbush's price target would suggest a potential upside of 134.84% from the company's current price.

NUVB has been the topic of several other research reports. HC Wainwright restated a "buy" rating and set a $17.00 price objective on shares of Nuvation Bio in a report on Tuesday. UBS Group cut their price objective on shares of Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada upped their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the company an "outperform" rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvation Bio in a report on Tuesday, April 21st. Finally, Truist Financial set a $13.00 price target on shares of Nuvation Bio in a report on Tuesday, January 27th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.63.

Nuvation Bio Stock Up 6.2%

Nuvation Bio stock traded up $0.27 during trading hours on Tuesday, reaching $4.68. The stock had a trading volume of 2,596,516 shares, compared to its average volume of 4,828,461. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -7.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.95 and a quick ratio of 6.81. The business's 50 day moving average price is $4.72 and its 200-day moving average price is $5.92. Nuvation Bio has a 52 week low of $1.57 and a 52 week high of $9.75.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced 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 325.31% and a negative return on equity of 57.48%. The business had revenue of $83.23 million during the quarter, compared to the consensus estimate of $65.73 million. Sell-side analysts anticipate that Nuvation Bio will post -0.47 EPS for the current year.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 50,000 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the sale, the insider owned 18,000 shares in the company, valued at approximately $90,360. This represents a 73.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 36,750 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.01, for a total value of $184,117.50. Following the completion of the sale, the insider owned 53,000 shares in the company, valued at approximately $265,530. This represents a 40.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 286,750 shares of company stock worth $1,339,118. Insiders own 30.11% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NUVB. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $25,000. Parallel Advisors LLC lifted its position in shares of Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company's stock valued at $28,000 after buying an additional 2,597 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $29,000. Captrust Financial Advisors purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $32,000. Finally, Swiss Life Asset Management Ltd purchased a new position in shares of Nuvation Bio during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors 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.

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