Free Trial

Nuvation Bio (NYSE:NUVB) Receives Outperform Rating from Wedbush

Nuvation Bio logo with Medical background

Wedbush reaffirmed their outperform rating on shares of Nuvation Bio (NYSE:NUVB - Free Report) in a report released on Wednesday,Benzinga reports. They currently have a $5.00 price objective on the stock.

Several other equities analysts also recently commented on the stock. Citizens Jmp initiated coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price objective on the stock. Citigroup initiated coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued an "outperform" rating on the stock. HC Wainwright decreased their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Jones Trading began coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price for the company. Finally, JMP Securities reissued a "market outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nuvation Bio presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.83.

Read Our Latest Analysis on NUVB

Nuvation Bio Stock Performance

NUVB traded down $0.09 during trading on Wednesday, reaching $1.73. 8,930,836 shares of the stock were exchanged, compared to its average volume of 2,643,694. The stock has a market cap of $586.95 million, a P/E ratio of -0.79 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 stock's 50 day moving average price is $2.15 and its two-hundred day moving average price is $2.30.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.16). The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $0.42 million. Equities research analysts predict that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In other news, CEO David Hung acquired 300,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $1.62 per share, for a total transaction of $486,000.00. Following the purchase, the chief executive officer now owns 58,781,054 shares of the company's stock, valued at approximately $95,225,307.48. The trade was a 0.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the insider now directly owns 12,000 shares of the company's stock, valued at $30,000. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 29.93% of the company's stock.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently bought and sold shares of NUVB. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $27,000. Forum Financial Management LP bought a new position in shares of Nuvation Bio in the fourth quarter worth about $29,000. Cerity Partners LLC purchased a new stake in shares of Nuvation Bio during the fourth quarter worth about $31,000. Firethorn Wealth Partners LLC purchased a new position in Nuvation Bio during the 1st quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of 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 purchasing an additional 15,791 shares during the period. Institutional investors own 61.67% of the company's stock.

About Nuvation Bio

(Get Free Report)

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.

See Also

Analyst Recommendations for Nuvation Bio (NYSE:NUVB)

Should You Invest $1,000 in Nuvation Bio Right Now?

Before you consider Nuvation Bio, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nuvation Bio wasn't on the list.

While Nuvation Bio currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Made in America Stocks Under $20 You Need to See!
3 Cheap Growth Stocks Set to Explode This Summer
The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines