Nuvation Bio Inc. (NYSE:NUVB) Short Interest Update

Nuvation Bio Inc. (NYSE:NUVB) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 9,970,000 shares, a drop of 53.5% from the September 30th total of 21,420,000 shares. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is presently 6.6 days. Currently, 4.4% of the company’s stock are short sold.

Nuvation Bio Price Performance

Shares of NYSE:NUVB traded down $0.09 on Friday, reaching $2.21. The company’s stock had a trading volume of 1,090,849 shares, compared to its average volume of 1,420,043. Nuvation Bio has a 52-week low of $0.95 and a 52-week high of $4.16. The stock has a market capitalization of $546.25 million, a P/E ratio of -7.13 and a beta of 1.36. The stock’s 50-day moving average is $2.67 and its two-hundred day moving average is $2.93.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The company had revenue of $1.44 million for the quarter. Equities analysts forecast that Nuvation Bio will post -0.41 earnings per share for the current fiscal year.

Insider Activity at Nuvation Bio

In related news, Director Robert Mashal acquired 100,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at $220,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 36.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. purchased a new stake in Nuvation Bio during the second quarter worth $29,000. EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 10,000 shares in the last quarter. Xponance Inc. acquired a new stake in Nuvation Bio during the second quarter worth approximately $33,000. Caxton Associates LP acquired a new stake in Nuvation Bio during the second quarter worth approximately $43,000. Finally, Choreo LLC purchased a new stake in Nuvation Bio in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Tuesday. Finally, HC Wainwright cut their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $6.40.

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.