Nuvation Bio (NYSE:NUVB) Raised to Hold at Wall Street Zen

Nuvation Bio (NYSE:NUVB - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

NUVB has been the subject of several other reports. HC Wainwright lowered their price target on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, March 10th. Jones Trading assumed coverage on Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price on the stock. JMP Securities reissued a "market outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research note on Monday. Wedbush reissued an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, May 15th. Finally, Citigroup assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They issued an "outperform" rating on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $7.83.

Nuvation Bio Stock Performance

NUVB traded down $0.01 during mid-day trading on Friday, reaching $2.47. The stock had a trading volume of 5,093,432 shares, compared to its average volume of 2,421,485. Nuvation Bio has a 52 week low of $1.54 and a 52 week high of $3.97. The stock has a market capitalization of $840.45 million, a P/E ratio of -1.14 and a beta of 1.37. The firm's fifty day simple moving average is $2.10 and its two-hundred day simple moving average is $2.32.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.16). The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. As a group, analysts expect that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, CEO David Hung bought 200,000 shares of the business's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $1.66 per share, for a total transaction of $332,000.00. Following the completion of the purchase, the chief executive officer now directly owns 58,481,054 shares of the company's stock, valued at approximately $97,078,549.64. This trade represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dongfang Liu sold 20,000 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the transaction, the insider now directly owns 12,000 shares of the company's stock, valued at $30,000. This trade represents a 62.50% decrease in their position. The disclosure for this sale can be found here. 29.93% of the stock is currently owned by company insiders.

Institutional Trading of Nuvation Bio

Hedge funds have recently made changes to their positions in the company. Peapod Lane Capital LLC acquired a new position in shares of Nuvation Bio during the fourth quarter worth $1,042,000. Palumbo Wealth Management LLC raised its holdings in shares of Nuvation Bio by 297.4% during 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. Abacus Planning Group Inc. bought a new position in Nuvation Bio in the fourth quarter worth approximately $44,000. Ieq Capital LLC acquired a new stake in Nuvation Bio in the 4th quarter valued at $98,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Nuvation Bio by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company's stock valued at $1,379,000 after buying an additional 14,203 shares during the last quarter. 61.67% of the stock is 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.

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