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

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.

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

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.