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

Key Points

• Nuvation Bio has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a shift in market sentiment towards the company.
• Despite the upgrades, Nuvation Bio's stock is currently trading at $2.50, with a market cap of approximately $848.95 million and a 12-month price range between $1.54 and $3.97.
• Analysts project that Nuvation Bio will report an earnings per share of -0.36 for the current year, following a recent quarter where the company met consensus estimates with EPS of -0.16.

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

Several other equities analysts have also recently commented on NUVB. Royal Bank Of Canada raised shares of Nuvation Bio from an "outperform" rating to a "moderate buy" rating and lowered their target price for the company from $10.00 to $6.00 in a research note on Tuesday, June 17th. Citigroup began coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They set an "outperform" rating for the company. JMP Securities reissued a "market outperform" rating and set a $6.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 25th. Citizens Jmp began coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 target price for the company. Finally, Wedbush reissued an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 11th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $7.17.

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock traded down $0.10 during trading on Friday, hitting $2.46. 4,488,346 shares of the stock were exchanged, compared to its average volume of 5,081,985. The stock's fifty day moving average is $2.18 and its 200 day moving average is $2.15. The stock has a market cap of $835.34 million, a PE ratio of -1.04 and a beta of 1.33. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $3.97.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $3.08 million during the quarter, compared to analyst estimates of $0.42 million. Nuvation Bio had a negative net margin of 5,534.21% and a negative return on equity of 44.14%. Sell-side analysts anticipate that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Insider Transactions at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the transaction, the insider owned 12,000 shares of the company's stock, valued at $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 29.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors have recently modified their holdings of NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nuvation Bio by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company's stock valued at $191,000 after purchasing an additional 4,608 shares during the period. Two Sigma Investments LP increased its holdings in Nuvation Bio by 0.5% in the 4th quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company's stock valued at $3,062,000 after buying an additional 5,925 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Nuvation Bio by 20.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,486 shares of the company's stock valued at $71,000 after buying an additional 6,307 shares during the period. Exchange Traded Concepts LLC increased its holdings in Nuvation Bio by 11.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 60,951 shares of the company's stock valued at $107,000 after buying an additional 6,403 shares during the period. Finally, Pale Fire Capital SE increased its holdings in Nuvation Bio by 17.0% in the 1st quarter. Pale Fire Capital SE now owns 45,642 shares of the company's stock valued at $80,000 after buying an additional 6,642 shares during the period. Institutional investors own 61.67% of the company's stock.

Nuvation Bio Company Profile

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.