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

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

A number of other equities analysts have also recently issued reports 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 boosted 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 analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.60.

Nuvation Bio Trading Up 5.6 %

Nuvation Bio stock opened at $2.82 on Monday. Nuvation Bio has a 12-month low of $1.43 and a 12-month high of $4.16. The firm has a 50-day moving average price of $2.65 and a 200-day moving average price of $2.83. The firm has a market capitalization of $949.12 million, a PE ratio of -1.30 and a beta of 1.46.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $0.73 million for the quarter. As a group, sell-side analysts predict that Nuvation Bio will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at $220,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its position in shares of Nuvation Bio by 913.2% during the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after purchasing an additional 10,000 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Nuvation Bio during the 2nd quarter valued at $33,000. Caxton Associates LP acquired a new stake in shares of Nuvation Bio in the 2nd quarter worth $43,000. Finally, Choreo LLC purchased a new position in Nuvation Bio during the 2nd quarter worth $47,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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.