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

JMP Securities reaffirmed their market outperform rating on shares of Nuvation Bio (NYSE:NUVB - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $6.00 price objective on the stock.

NUVB has been the subject of several other research reports. Citizens Jmp assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price target for the company. Wedbush reissued an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Thursday, May 15th. Citigroup began coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They set an "outperform" rating for the company. Jones Trading began coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They set a "buy" rating and a $10.00 target price on the stock. Finally, HC Wainwright dropped their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $7.83.

Nuvation Bio Stock Performance

NUVB stock remained flat at $2.45 during mid-day trading on Monday. 4,552,916 shares of the company's stock were exchanged, compared to its average volume of 3,131,686. The stock has a 50-day moving average of $2.06 and a two-hundred day moving average of $2.32. The stock has a market capitalization of $833.64 million, a P/E ratio of -1.13 and a beta of 1.42. Nuvation Bio has a 52 week low of $1.54 and a 52 week high of $3.97.

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

Insider Transactions at Nuvation Bio

In related news, CEO David Hung bought 300,000 shares of Nuvation Bio stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $1.62 per share, for a total transaction of $486,000.00. Following the completion of the acquisition, the chief executive officer now owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the transaction, the insider now directly owns 12,000 shares in the company, valued at $30,000. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.93% of the company's stock.

Institutional Trading of Nuvation Bio

Large investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Nuvation Bio by 54.9% during the 4th quarter. FMR LLC now owns 45,285,572 shares of the company's stock valued at $120,460,000 after purchasing an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Nuvation Bio by 45.4% in the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock valued at $41,849,000 after purchasing an additional 4,913,820 shares during the last quarter. MPM Bioimpact LLC bought a new stake in shares of Nuvation Bio in the fourth quarter valued at about $11,077,000. Millennium Management LLC raised its position in shares of Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock valued at $6,642,000 after buying an additional 1,298,131 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Nuvation Bio by 22.9% during the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock worth $13,174,000 after acquiring an additional 922,503 shares during the period. Institutional investors 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.