Nuvation Bio (NYSE:NUVB) Rating Reiterated by Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock. Wedbush’s price objective suggests a potential upside of 113.68% from the company’s previous close.

Other research analysts also recently issued reports about the company. HC Wainwright dropped 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. 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $6.40.

Nuvation Bio Price Performance

NUVB traded down $0.02 on Tuesday, hitting $2.34. The company had a trading volume of 247,615 shares, compared to its average volume of 1,422,844. The company’s fifty day moving average price is $2.70 and its 200 day moving average price is $2.96. The stock has a market cap of $578.38 million, a price-to-earnings ratio of -7.55 and a beta of 1.36. Nuvation Bio has a 1-year low of $0.95 and a 1-year high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its quarterly 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 business had revenue of $1.44 million during the quarter. On average, sell-side analysts forecast that Nuvation Bio will post -0.4 EPS for the current year.

Insider Activity

In related news, Director Robert Mashal purchased 100,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 36.09% of the stock is currently owned by company insiders.

Institutional Trading of Nuvation Bio

A number of large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Nuvation Bio by 58.7% in the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after acquiring an additional 9,603 shares during the period. EverSource Wealth Advisors LLC grew its position in Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after acquiring an additional 10,000 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio in the second quarter worth $29,000. Xponance Inc. acquired a new position in Nuvation Bio in the second quarter worth $33,000. Finally, Caxton Associates LP acquired a new position in Nuvation Bio in the second quarter worth $43,000. 61.67% of the stock is currently owned by 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.