Nuvation Bio Inc. (NYSE:NUVB) Director Buys $262,267.85 in Stock

Nuvation Bio Inc. (NYSE:NUVB) Director Xiangmin Cui bought 87,715 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was purchased at an average price of $2.99 per share, with a total value of $262,267.85. Following the completion of the transaction, the director now directly owns 1,762,951 shares of the company’s stock, valued at approximately $5,271,223.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Xiangmin Cui also recently made the following trade(s):

• On Monday, June 24th, Xiangmin Cui acquired 336,874 shares of Nuvation Bio stock. The stock was purchased at an average cost of $2.98 per share, with a total value of $1,003,884.52.

Nuvation Bio Stock Performance

NUVB stock opened at $3.04 on Friday. The company’s fifty day simple moving average is $3.02 and its 200 day simple moving average is $2.38. Nuvation Bio Inc. has a 12-month low of $0.95 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Sell-side analysts expect that Nuvation Bio Inc. will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Nuvation Bio by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after acquiring an additional 219,533 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after purchasing an additional 1,146,794 shares during the period. Acadian Asset Management LLC boosted its position in shares of Nuvation Bio by 81.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock worth $4,273,000 after purchasing an additional 528,660 shares in the last quarter. Octagon Capital Advisors LP acquired a new stake in shares of Nuvation Bio in the 4th quarter valued at about $1,510,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Nuvation Bio by 254.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after buying an additional 537,314 shares during the period. 61.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NUVB has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a report on Friday, May 24th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Nuvation Bio in a research note on Monday, June 3rd. BTIG Research raised Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, March 26th. Jefferies Financial Group raised Nuvation Bio from a “hold” rating to a “buy” rating and increased their price target for the company from $1.40 to $10.00 in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada lifted their price objective on Nuvation Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $6.60.

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.