Nuvation Bio's (NUVB) "Market Outperform" Rating Reaffirmed at JMP Securities

Nuvation Bio (NYSE:NUVB - Get Free Report)'s stock had its "market outperform" rating restated by JMP Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $6.00 price target on the stock. JMP Securities' price objective points to a potential upside of 202.27% from the company's current price.

Several other research firms have also issued reports on NUVB. Wedbush reissued an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Wednesday, June 11th. Royal Bank Of Canada raised Nuvation Bio from an "outperform" rating to a "moderate buy" rating and dropped their target price for the stock from $10.00 to $6.00 in a report on Tuesday, June 17th. Jones Trading started coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price for the company. Citizens Jmp assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 target price on the stock. Finally, Citigroup assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set an "outperform" rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nuvation Bio presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.17.

Nuvation Bio Price Performance

Shares of NYSE NUVB traded down $0.07 during trading hours on Wednesday, reaching $1.99. The stock had a trading volume of 2,557,711 shares, compared to its average volume of 3,818,031. The company has a market cap of $675.42 million, a price-to-earnings ratio of -0.84 and a beta of 1.37. Nuvation Bio has a twelve month low of $1.54 and a twelve month high of $3.97. The business's fifty day moving average is $2.15 and its two-hundred day moving average is $2.25.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $3.08 million for 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 forecast that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of the firm's 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 transaction, the insider now owns 12,000 shares of the company's stock, valued at approximately $30,000. This trade represents a 62.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Hung purchased 200,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $1.66 per share, with a total value of $332,000.00. Following the completion of the purchase, the chief executive officer now owns 58,481,054 shares of the company's stock, valued at $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. 29.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NUVB. Ieq Capital LLC bought a new stake in Nuvation Bio in the fourth quarter valued at about $98,000. Bank of New York Mellon Corp raised its position in shares of Nuvation Bio by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company's stock valued at $1,379,000 after acquiring an additional 14,203 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Nuvation Bio by 39.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company's stock worth $5,176,000 after acquiring an additional 551,968 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Nuvation Bio by 47.2% in the 4th quarter. Arizona State Retirement System now owns 62,964 shares of the company's stock valued at $167,000 after buying an additional 20,176 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Nuvation Bio by 6.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 422,260 shares of the company's stock worth $1,123,000 after acquiring an additional 25,524 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.

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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