Nuvation Bio (NYSE:NUVB) Given Outperform Rating at Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $5.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 69.49% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Nuvation Bio in a report on Wednesday, July 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Stock Down 0.7 %

Shares of NYSE:NUVB opened at $2.95 on Wednesday. Nuvation Bio has a fifty-two week low of $0.95 and a fifty-two week high of $4.16. The firm’s 50 day moving average price is $3.13 and its 200 day moving average price is $2.96. The stock has a market cap of $729.15 million, a price-to-earnings ratio of -9.52 and a beta of 1.38.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The company had revenue of $1.44 million during the quarter. On average, equities analysts anticipate that Nuvation Bio will post -0.33 EPS for the current year.

Insider Buying and Selling at Nuvation Bio

In related news, Director Xiangmin Cui bought 336,874 shares of the stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $2.98 per share, for a total transaction of $1,003,884.52. Following the completion of the transaction, the director now owns 2,175,236 shares of the company’s stock, valued at approximately $6,482,203.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 36.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its position in 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 buying an additional 10,000 shares during the period. Beacon Pointe Advisors LLC purchased a new position in Nuvation Bio during the fourth quarter worth about $33,000. Xponance Inc. acquired a new stake in Nuvation Bio in the 2nd quarter worth about $33,000. Finally, Caxton Associates LP purchased a new stake in Nuvation Bio in the 2nd quarter valued at about $43,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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.