HC Wainwright Issues Positive Forecast for Nuvation Bio (NYSE:NUVB) Stock Price

Nuvation Bio (NYSE:NUVB) had its price objective boosted by HC Wainwright from $10.00 to $18.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 127.96% from the company’s current price.

Several other research analysts have also recently issued reports on NUVB. Wall Street Zen raised shares of Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. B. Riley initiated coverage on shares of Nuvation Bio in a research note on Wednesday, November 19th. They issued a “buy” rating and a $12.00 price objective on the stock. Citizens Jmp boosted their price target on Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Thursday, November 20th. Truist Financial set a $11.00 price objective on shares of Nuvation Bio in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.56.

Nuvation Bio Stock Down 1.3%

Shares of Nuvation Bio stock opened at $7.90 on Thursday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -12.34 and a beta of 1.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.39 and a current ratio of 8.48. The company’s 50 day moving average price is $5.50 and its 200-day moving average price is $3.59. Nuvation Bio has a 52-week low of $1.54 and a 52-week high of $8.95.

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

Insider Activity

In other news, insider Dongfang Liu sold 150,000 shares of the company’s stock in a transaction that occurred 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 owned 18,000 shares of the company’s stock, valued at approximately $140,760. This represents a 89.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 320,000 shares of company stock valued at $2,050,800. Company insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

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

Nuvation Bio Company Profile

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.