Nuvation Bio (NYSE:NUVB) Given New $17.00 Price Target at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its price objective reduced by stock analysts at HC Wainwright from $18.00 to $17.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 136.44% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. Citizens Jmp lifted their price objective on shares of Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 20th. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of Nuvation Bio in a report on Monday, October 13th. Truist Financial set a $11.00 price target on Nuvation Bio in a report on Monday, November 24th. Finally, UBS Group started coverage on Nuvation Bio in a research report on Wednesday, January 7th. They set a “neutral” rating and a $10.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock opened at $7.19 on Monday. The firm has a market cap of $2.46 billion, a PE ratio of -11.28 and a beta of 1.54. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14. Nuvation Bio has a 52 week low of $1.54 and a 52 week high of $9.75. The business’s fifty day simple moving average is $7.58 and its 200-day simple moving average is $4.64.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. The firm had revenue of $13.12 million during the quarter, compared to the consensus estimate of $7.48 million. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. Equities analysts forecast that Nuvation Bio will post -0.36 earnings per share for the current year.

Insider Activity

In related news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dongfang Liu sold 150,000 shares of the company’s 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 completion of the sale, the insider directly owned 18,000 shares in the company, valued at $140,760. This trade represents a 89.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 320,000 shares of company stock valued at $2,050,800 in the last quarter. Company insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in NUVB. Parallel Advisors LLC grew its holdings in Nuvation Bio by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares during the period. Swiss Life Asset Management Ltd purchased a new stake in shares of Nuvation Bio during the 3rd quarter valued at $39,000. Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth $40,000. HBK Sorce Advisory LLC acquired a new position in shares of Nuvation Bio in the 3rd quarter valued at about $42,000. Finally, Federated Hermes Inc. grew its holdings in shares of Nuvation Bio by 75.9% during the 3rd quarter. Federated Hermes Inc. now owns 11,630 shares of the company’s stock worth $43,000 after purchasing an additional 5,020 shares during the period. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

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.