Nuvation Bio (NYSE:NUVB) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. initiated coverage on shares of Nuvation Bio (NYSE:NUVBGet Free Report) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set an “overweight” rating and a $13.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 99.69% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Truist Financial raised their target price on Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. B. Riley Financial reissued a “buy” rating on shares of Nuvation Bio in a research note on Friday, August 7th. Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a report on Thursday, July 23rd. Zacks Research raised shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Friday, July 17th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Check Out Our Latest Stock Report on NUVB

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock opened at $6.51 on Tuesday. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $5.94 and a two-hundred day moving average price of $5.26. Nuvation Bio has a 1-year low of $2.57 and a 1-year high of $9.75. The company has a market cap of $2.29 billion, a P/E ratio of -14.80 and a beta of 1.52.

Nuvation Bio (NYSE:NUVBGet Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $31.69 million during the quarter, compared to the consensus estimate of $27.03 million. Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%. As a group, analysts anticipate that Nuvation Bio will post -0.39 EPS for the current year.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, CFO Philippe Sauvage sold 47,668 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total transaction of $286,484.68. Following the transaction, the chief financial officer owned 12,673 shares in the company, valued at approximately $76,164.73. This represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the transaction, the insider directly owned 32,591 shares in the company, valued at $196,523.73. This trade represents a 79.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 235,668 shares of company stock valued at $1,419,495 in the last 90 days. 30.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nuvation Bio by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after buying an additional 4,608 shares during the last quarter. Millennium Management LLC increased its stake in Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after buying an additional 1,298,131 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Nuvation Bio in the 2nd quarter valued at about $92,000. Creative Planning lifted its position in shares of Nuvation Bio by 267.1% during the 2nd quarter. Creative Planning now owns 39,288 shares of the company’s stock worth $77,000 after buying an additional 28,585 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

About Nuvation Bio

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Nuvation Bio (NYSE:NUVB)

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