Nuvation Bio (NYSE:NUVB) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report issued on Thursday,RTT News reports. They currently have a $5.00 price objective on the stock.

Several other analysts have also recently weighed in on NUVB. HC Wainwright dropped their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Nuvation Bio presently has an average rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Trading Up 9.9 %

Shares of Nuvation Bio stock traded up $0.26 during trading on Thursday, reaching $2.88. The company’s stock had a trading volume of 3,662,097 shares, compared to its average volume of 1,451,688. The stock has a 50-day moving average price of $2.56 and a two-hundred day moving average price of $2.90. Nuvation Bio has a one year low of $1.21 and a one year high of $4.16. The stock has a market capitalization of $717.83 million, a P/E ratio of -1.36 and a beta of 1.35.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. As a group, sell-side analysts anticipate that Nuvation Bio will post -0.29 EPS for the current fiscal year.

Insider Activity at Nuvation Bio

In other news, Director Robert Mashal purchased 100,000 shares of Nuvation Bio stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at $220,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 5.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after buying an additional 10,000 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $33,000. Caxton Associates LP acquired a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $43,000. Finally, Choreo LLC acquired a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.