Nuvation Bio (NYSE:NUVB) Trading 3.3% Higher

Nuvation Bio Inc. (NYSE:NUVB) traded up 3.3% on Thursday . The company traded as high as $3.09 and last traded at $3.09. 58,847 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,264,691 shares. The stock had previously closed at $2.99.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Nuvation Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Jefferies Financial Group upgraded Nuvation Bio from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1.40 to $10.00 in a research note on Wednesday, March 27th. BTIG Research upgraded Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Tuesday, March 26th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Friday, May 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Nuvation Bio in a report on Monday, June 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $6.60.

Nuvation Bio Stock Down 3.8 %

The business’s fifty day moving average is $3.03 and its 200 day moving average is $2.39.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Tuesday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. On average, analysts expect that Nuvation Bio Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Kim D. Blickenstaff bought 172,189 shares of the stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $2.90 per share, with a total value of $499,348.10. Following the acquisition, the director now directly owns 172,189 shares of the company’s stock, valued at approximately $499,348.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Kim D. Blickenstaff purchased 172,189 shares of Nuvation Bio stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $2.90 per share, for a total transaction of $499,348.10. Following the transaction, the director now directly owns 172,189 shares of the company’s stock, valued at $499,348.10. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Xiangmin Cui purchased 336,874 shares of Nuvation Bio stock in a transaction dated Monday, June 24th. The shares were purchased at an average price of $2.98 per share, with a total value of $1,003,884.52. Following the completion of the transaction, the director now directly owns 2,175,236 shares in the company, valued at $6,482,203.28. The disclosure for this purchase can be found here. Insiders have acquired 596,778 shares of company stock valued at $1,765,500 in the last 90 days. 36.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NUVB. Hsbc Holdings PLC grew its position in shares of Nuvation Bio by 56.1% during the 3rd quarter. Hsbc Holdings PLC now owns 174,827 shares of the company’s stock valued at $238,000 after purchasing an additional 62,844 shares in the last quarter. Acadian Asset Management LLC grew its position in Nuvation Bio by 258.9% in the third quarter. Acadian Asset Management LLC now owns 113,717 shares of the company’s stock worth $150,000 after acquiring an additional 82,031 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Nuvation Bio by 69.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,174 shares of the company’s stock worth $370,000 after acquiring an additional 112,891 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Nuvation Bio by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock worth $163,000 after acquiring an additional 27,346 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Nuvation Bio by 219.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 738,831 shares of the company’s stock worth $1,116,000 after acquiring an additional 507,452 shares in the last quarter. 61.67% of the stock is currently owned by hedge funds and other 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.