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

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report released on Monday,RTT News reports. They currently have a $5.00 target price on the stock. Wedbush’s target price suggests a potential upside of 76.68% from the stock’s current price.

Several other research analysts have also weighed in on NUVB. Royal Bank of Canada increased their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Nuvation Bio in a research report on Monday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio presently has an average rating of “Buy” and an average target price of $6.60.

Nuvation Bio Trading Down 2.1 %

Shares of NUVB stock traded down $0.06 during trading hours on Monday, hitting $2.83. The company’s stock had a trading volume of 2,803,863 shares, compared to its average volume of 2,269,721. The business has a fifty day moving average of $2.70 and a 200-day moving average of $2.82. Nuvation Bio has a twelve month low of $1.43 and a twelve month high of $4.16. The stock has a market cap of $952.48 million, a price-to-earnings ratio of -1.30 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $0.73 million during the quarter. On average, equities analysts expect that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal bought 100,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $220,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing 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

A number of hedge funds have recently added to or reduced their stakes in NUVB. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nuvation Bio in the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in Nuvation Bio by 913.2% in the second 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. bought a new stake in Nuvation Bio in the second quarter valued at $33,000. Caxton Associates LP acquired a new position in shares of Nuvation Bio during the second quarter valued at $43,000. Finally, Choreo LLC bought a new position in shares of Nuvation Bio during the second quarter worth about $47,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.