Nuvation Bio (NYSE:NUVB) Trading Down 2.8%

Nuvation Bio Inc. (NYSE:NUVB)’s share price traded down 2.8% during trading on Tuesday . The stock traded as low as $3.04 and last traded at $3.07. 103,405 shares changed hands during trading, a decline of 92% from the average session volume of 1,347,909 shares. The stock had previously closed at $3.16.

Analyst Upgrades and Downgrades

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

Nuvation Bio Stock Down 1.8 %

The business’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $2.43.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Tuesday, May 14th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Research analysts anticipate that Nuvation Bio Inc. will post -0.31 earnings per share for the current year.

Insider Transactions at Nuvation Bio

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

Institutional Investors Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Beacon Pointe Advisors LLC purchased a new stake in Nuvation Bio during the fourth quarter valued at about $33,000. Gladius Capital Management LP increased its position in shares of Nuvation Bio by 92.6% in the fourth quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock worth $47,000 after acquiring an additional 14,885 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Nuvation Bio during the first quarter valued at approximately $79,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Nuvation Bio in the 1st quarter valued at approximately $105,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Nuvation Bio by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after acquiring an additional 27,346 shares in the last quarter. 61.67% of the stock is owned by institutional investors and hedge funds.

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.