Nuvation Bio (NYSE:NUVB) Earns Market Outperform Rating from Analysts at JMP Securities

Analysts at JMP Securities assumed coverage on shares of Nuvation Bio (NYSE:NUVB - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The firm set a "market outperform" rating and a $6.00 price target on the stock. JMP Securities' price target suggests a potential upside of 190.56% from the stock's current price.

NUVB has been the topic of a number of other reports. Wedbush reaffirmed an "outperform" rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Thursday, March 27th. HC Wainwright lowered their price objective on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Jones Trading assumed coverage on Nuvation Bio in a research note on Wednesday, March 12th. They set a "buy" rating and a $10.00 price objective for the company. Finally, Royal Bank of Canada restated an "outperform" rating and set a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Nuvation Bio has a consensus rating of "Buy" and a consensus target price of $8.20.

Nuvation Bio Trading Up 4.3 %

Shares of NUVB stock opened at $2.07 on Wednesday. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $3.97. The stock has a market cap of $699.37 million, a P/E ratio of -0.95 and a beta of 1.47. The company has a 50 day simple moving average of $1.96 and a two-hundred day simple moving average of $2.37.

Insider Transactions at Nuvation Bio

In related news, CEO David Hung acquired 200,000 shares of Nuvation Bio stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the completion of the transaction, the chief executive officer now directly owns 58,481,054 shares in the company, valued at approximately $97,078,549.64. This represents a 0.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.07% of the company's stock.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nuvation Bio during the 4th quarter valued at about $27,000. Forum Financial Management LP bought a new position in Nuvation Bio during the fourth quarter valued at approximately $29,000. Cerity Partners LLC purchased a new position in Nuvation Bio during the 4th quarter valued at approximately $31,000. Russell Investments Group Ltd. increased its stake in Nuvation Bio by 15,183.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock worth $42,000 after acquiring an additional 15,791 shares during the last quarter. Finally, Abacus Planning Group Inc. purchased a new stake in shares of Nuvation Bio during the 4th quarter worth approximately $44,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

About Nuvation Bio

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.

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