Nuvation Bio (NYSE:NUVB) Receives Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Nuvation Bio (NYSE:NUVB - Free Report) in a report published on Wednesday,Benzinga reports. JMP Securities currently has a $6.00 price target on the stock.

A number of other equities analysts also recently issued reports on the company. Royal Bank Of Canada upgraded Nuvation Bio from an "outperform" rating to a "moderate buy" rating and decreased their price objective for the stock from $10.00 to $6.00 in a report on Tuesday, June 17th. Wall Street Zen downgraded Nuvation Bio from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Citizens Jmp initiated coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price objective for the company. Citigroup initiated coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued an "outperform" rating for the company. Finally, Jones Trading initiated coverage on Nuvation Bio in a report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.17.

Nuvation Bio Stock Performance

NUVB stock traded down $0.03 on Wednesday, reaching $1.94. The company's stock had a trading volume of 14,170,008 shares, compared to its average volume of 2,920,277. The business has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $2.24. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $3.97. The firm has a market cap of $660.78 million, a PE ratio of -0.83 and a beta of 1.37.

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

Insider Activity

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value 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 approximately $30,000. The trade was a 62.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Hung acquired 200,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $1.66 per share, with a total value of $332,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 58,481,054 shares in the company, valued at $97,078,549.64. This represents a 0.34% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 29.93% of the company's stock.

Institutional Investors Weigh In On Nuvation Bio

Large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in Nuvation Bio in the 4th quarter worth about $27,000. Forum Financial Management LP bought a new stake in Nuvation Bio in the 4th quarter worth about $29,000. Cerity Partners LLC bought a new stake in Nuvation Bio in the 4th quarter worth about $31,000. Russell Investments Group Ltd. increased its holdings in Nuvation Bio by 15,183.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock worth $42,000 after buying an additional 15,791 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in Nuvation Bio in the 4th quarter worth about $45,000. 61.67% of the stock is currently owned by institutional investors.

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.