Nuvation Bio’s (NUVB) “Outperform” Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report released on Monday, RTT News reports. Wedbush currently has a $5.00 price target on the stock.

Several other equities analysts have also commented on the company. Royal Bank of Canada increased their price objective on Nuvation Bio from $4.00 to $5.00 and gave the company an outperform rating in a research report on Wednesday, April 17th. HC Wainwright reiterated a buy rating and set a $8.00 price objective on shares of Nuvation Bio in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $6.60.

Nuvation Bio Stock Down 6.3 %

Shares of NUVB stock traded down $0.20 on Monday, reaching $2.98. The company’s stock had a trading volume of 1,780,825 shares, compared to its average volume of 1,388,968. Nuvation Bio has a 12-month low of $0.95 and a 12-month high of $4.16. The stock’s 50 day simple moving average is $3.13 and its 200-day simple moving average is $2.74. The company has a market capitalization of $736.57 million, a P/E ratio of -9.48 and a beta of 1.40.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The business had revenue of $1.44 million during the quarter. Research analysts expect that Nuvation Bio will post -0.31 EPS for the current year.

Insider Buying and Selling

In related news, Director Xiangmin Cui purchased 336,874 shares of Nuvation Bio stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average cost of $2.98 per share, for a total transaction of $1,003,884.52. Following the transaction, the director now directly owns 2,175,236 shares in the company, valued at $6,482,203.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kim D. Blickenstaff bought 172,189 shares of the stock in a transaction dated Tuesday, June 11th. The stock was bought at an average price of $2.90 per share, for a total transaction of $499,348.10. Following the purchase, the director now directly owns 172,189 shares in the company, valued at approximately $499,348.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Xiangmin Cui bought 336,874 shares of the stock in a transaction dated Monday, June 24th. The stock was purchased at an average price of $2.98 per share, with a total value of $1,003,884.52. Following the purchase, the director now owns 2,175,236 shares in the company, valued at $6,482,203.28. The disclosure for this purchase can be found here. Insiders have purchased a total of 596,778 shares of company stock worth $1,765,500 in the last ninety days. 36.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Nuvation Bio by 58.7% during the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after buying an additional 9,603 shares during the last quarter. Gladius Capital Management LP raised its stake in Nuvation Bio by 92.6% during the fourth quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock valued at $47,000 after buying an additional 14,885 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in Nuvation Bio during the fourth quarter valued at $33,000. Susquehanna Fundamental Investments LLC purchased a new position in Nuvation Bio during the first quarter valued at $79,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Nuvation Bio during the first quarter valued at $105,000. Hedge funds and other institutional investors 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.