HC Wainwright Has Lowered Expectations for Nuvation Bio (NYSE:NUVB) Stock Price

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

Several other research analysts have also commented on NUVB. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. B. Riley initiated coverage on shares of Nuvation Bio in a research report on Wednesday, November 19th. They set a “buy” rating and a $12.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Nuvation Bio in a research note on Monday, October 13th. Truist Financial set a $11.00 price target on shares of Nuvation Bio in a research note on Monday, November 24th. Finally, JMP Securities set a $10.00 price target on Nuvation Bio in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.40.

Nuvation Bio Price Performance

NYSE NUVB opened at $7.19 on Monday. 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 has a market capitalization of $2.46 billion, a price-to-earnings ratio of -11.28 and a beta of 1.54. The stock has a 50-day moving average of $7.58 and a 200 day moving average of $4.64. Nuvation Bio has a one year low of $1.54 and a one year high of $9.75.

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 the consensus estimate of ($0.17) by $0.01. The company had revenue of $13.12 million for the quarter, compared to analysts’ expectations of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%. On average, sell-side analysts forecast that Nuvation Bio will post -0.36 EPS for the current year.

Insider Transactions at Nuvation Bio

In other news, 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 transaction of $502,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dongfang Liu sold 150,000 shares of the firm’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 transaction of $1,173,000.00. Following the completion of the transaction, the insider owned 18,000 shares of the company’s stock, valued at $140,760. This trade represents a 89.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 320,000 shares of company stock worth $2,050,800 in the last three months. Insiders own 29.93% of the company’s stock.

Institutional Trading of Nuvation Bio

A number of large investors have recently added to or reduced their stakes in NUVB. Highline Wealth Partners LLC acquired a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $25,000. Rangeley Capital LLC purchased a new position in Nuvation Bio during the second quarter worth approximately $25,000. Parallel Advisors LLC lifted its position in Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares in the last quarter. Cetera Investment Advisers acquired a new position in Nuvation Bio during the second quarter worth $29,000. Finally, Captrust Financial Advisors purchased a new stake in Nuvation Bio in the 2nd quarter valued at $32,000. Institutional investors own 61.67% of the company’s stock.

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.