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

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

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

Nuvation Bio Stock Down 2.1 %

Nuvation Bio stock traded down $0.06 during trading hours on Monday, hitting $2.83. 2,803,863 shares of the company traded hands, compared to its average volume of 2,269,721. Nuvation Bio has a 1-year low of $1.43 and a 1-year high of $4.16. The firm has a market cap of $952.48 million, a P/E ratio of -1.30 and a beta of 1.47. The firm’s 50-day simple moving average is $2.70 and its two-hundred day simple moving average is $2.82.

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 firm had revenue of $0.73 million during the quarter. On average, equities research analysts predict that Nuvation Bio will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Mashal acquired 100,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $220,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.07% of the company’s stock.

Institutional Trading of Nuvation Bio

Hedge funds have recently modified their holdings of the business. Frazier Life Sciences Management L.P. acquired a new position in Nuvation Bio during the third quarter valued at $2,790,000. Dimensional Fund Advisors LP increased its holdings in shares of Nuvation Bio by 415.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares during the period. Wexford Capital LP increased its holdings in shares of Nuvation Bio by 930.2% in the 3rd quarter. Wexford Capital LP now owns 651,767 shares of the company’s stock valued at $1,493,000 after purchasing an additional 588,500 shares during the period. FMR LLC lifted its position in shares of Nuvation Bio by 1.4% in the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after purchasing an additional 416,932 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Nuvation Bio by 479.1% during the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock worth $1,014,000 after purchasing an additional 366,429 shares during the period. 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.