Nuvation Bio Inc. (NYSE:NUVB) Sees Significant Growth in Short Interest

Nuvation Bio Inc. (NYSE:NUVB) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 14,070,000 shares, an increase of 28.3% from the November 15th total of 10,970,000 shares. Based on an average trading volume of 1,980,000 shares, the days-to-cover ratio is presently 7.1 days. Currently, 6.2% of the company’s shares are short sold.

Insider Activity

In other Nuvation Bio news, Director Robert Mashal purchased 100,000 shares of Nuvation Bio stock in a transaction on Tuesday, October 8th. The shares were purchased 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 directly owns 100,000 shares in the company, valued at approximately $220,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nuvation Bio during the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its position in shares of Nuvation Bio by 913.2% during the 2nd 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 during the period. Xponance Inc. bought a new stake in shares of Nuvation Bio in the 2nd quarter worth $33,000. Caxton Associates LP acquired a new stake in shares of Nuvation Bio in the second quarter valued at $43,000. Finally, Choreo LLC bought a new position in Nuvation Bio during the second quarter valued at about $47,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NUVB. Royal Bank of Canada raised their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, November 7th. 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 note on Monday, September 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Stock Down 0.8 %

Shares of NYSE:NUVB traded down $0.02 during trading on Friday, hitting $2.61. 970,970 shares of the company traded hands, compared to its average volume of 1,548,643. The business’s fifty day moving average is $2.57 and its 200-day moving average is $2.84. The stock has a market capitalization of $878.44 million, a price-to-earnings ratio of -1.21 and a beta of 1.46. Nuvation Bio has a one year low of $1.35 and a one year high of $4.16.

Nuvation Bio (NYSE:NUVB) last released its quarterly 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 firm had revenue of $0.73 million for the quarter. On average, analysts forecast that Nuvation Bio will post -0.4 EPS for the current year.

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.