Nuvation Bio (NYSE:NUVB) Trading Up 10% – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) shot up 10% on Friday . The stock traded as high as $2.86 and last traded at $2.85. 1,079,231 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 1,589,898 shares. The stock had previously closed at $2.59.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada upped their target price on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. HC Wainwright cut 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. Finally, Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a report on Monday, December 23rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Price Performance

The company has a market capitalization of $955.85 million, a price-to-earnings ratio of -1.31 and a beta of 1.46. The stock has a 50-day moving average price of $2.68 and a 200-day moving average price of $2.82.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. Equities analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at approximately $220,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NUVB. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised 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 valued at $32,000 after purchasing an additional 10,000 shares in the last quarter. Xponance Inc. bought a new stake in Nuvation Bio during the second quarter worth $33,000. Caxton Associates LP acquired a new stake in shares of Nuvation Bio in the 2nd quarter valued at $43,000. Finally, Choreo LLC bought a new position in shares of Nuvation Bio in the 2nd quarter valued at $47,000. 61.67% of the stock is owned by institutional investors and hedge funds.

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.