Nuvation Bio (NYSE:NUVB) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note released on Thursday,RTT News reports. The firm currently has a $5.00 price objective on the stock.

Several other analysts have also weighed in on the company. HC Wainwright reduced their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and set 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, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Stock Up 9.9 %

Shares of NUVB traded up $0.26 during trading hours on Thursday, hitting $2.88. 3,662,097 shares of the company were exchanged, compared to its average volume of 1,451,688. The company has a market cap of $717.83 million, a price-to-earnings ratio of -1.36 and a beta of 1.35. Nuvation Bio has a fifty-two week low of $1.21 and a fifty-two week high of $4.16. The firm’s fifty day moving average is $2.56 and its 200 day moving average is $2.90.

Nuvation Bio (NYSE:NUVB) last released 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 company had revenue of $0.73 million during the quarter. Analysts anticipate that Nuvation Bio will post -0.29 EPS for the current year.

Insiders Place Their Bets

In other Nuvation Bio news, Director Robert Mashal bought 100,000 shares of the stock in a transaction on Tuesday, October 8th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at $220,000. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP bought a new stake in shares of Nuvation Bio during the 3rd quarter valued at $172,000. SG Americas Securities LLC raised its stake in shares of Nuvation Bio by 125.8% during the 3rd quarter. SG Americas Securities LLC now owns 72,057 shares of the company’s stock valued at $165,000 after purchasing an additional 40,141 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nuvation Bio during the 2nd quarter valued at $29,000. Algert Global LLC raised its stake in shares of Nuvation Bio by 281.0% during the 2nd quarter. Algert Global LLC now owns 426,603 shares of the company’s stock valued at $1,246,000 after purchasing an additional 314,635 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Nuvation Bio by 252.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 76,494 shares of the company’s stock valued at $223,000 after purchasing an additional 54,762 shares during the period. Hedge funds and other institutional investors 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.