Nuvation Bio’s (NUVB) Outperform Rating Reaffirmed at Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a note issued to investors on Tuesday,Benzinga reports. They presently have a $11.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 92.64% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Thursday, January 22nd. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research note on Tuesday, November 4th. Citizens Jmp lifted their target price on Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Thursday, November 20th. B. Riley Financial initiated coverage on Nuvation Bio in a report on Wednesday, November 19th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price objective on Nuvation Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Nuvation Bio Trading Up 1.2%

Shares of Nuvation Bio stock opened at $5.71 on Tuesday. Nuvation Bio has a twelve month low of $1.54 and a twelve month high of $9.75. The firm’s 50-day moving average price is $7.49 and its 200 day moving average price is $5.18. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.96 billion, a PE ratio of -8.93 and a beta of 1.52.

Insiders Place Their Bets

In other Nuvation Bio news, insider Dongfang Liu sold 150,000 shares of Nuvation Bio stock in a transaction on Monday, December 1st. The shares were sold at an average price of $7.82, for a total value of $1,173,000.00. Following the transaction, the insider owned 18,000 shares in the company, valued at $140,760. This trade represents a 89.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 220,000 shares of company stock worth $1,548,800 in the last quarter. Corporate insiders own 29.93% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Nuvation Bio by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company’s stock worth $139,378,000 after purchasing an additional 101,011 shares during the period. Geode Capital Management LLC grew its stake in shares of Nuvation Bio by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock valued at $11,691,000 after buying an additional 864,194 shares in the last quarter. Millennium Management LLC raised its holdings in Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after acquiring an additional 1,298,131 shares during the period. Dimensional Fund Advisors LP raised its stake in Nuvation Bio by 19.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company’s stock valued at $12,276,000 after purchasing an additional 551,508 shares during the last quarter. Finally, Aisling Capital Management LP lifted its position in shares of Nuvation Bio by 16.5% in the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock worth $10,954,000 after acquiring an additional 419,650 shares during the period. 61.67% of the stock is owned by institutional investors and hedge funds.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.