Nuvation Bio (NYSE:NUVB) Trading Down 2.6%

Nuvation Bio Inc. (NYSE:NUVB)’s stock price fell 2.6% during mid-day trading on Wednesday . The company traded as low as $2.99 and last traded at $2.99. 49,790 shares changed hands during trading, a decline of 96% from the average session volume of 1,386,258 shares. The stock had previously closed at $3.07.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NUVB shares. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Tuesday, August 6th. Finally, HC Wainwright reduced their price target on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $6.40.

Nuvation Bio Trading Down 4.9 %

The firm has a market capitalization of $727.78 million, a price-to-earnings ratio of -9.90 and a beta of 1.38. The stock’s 50-day moving average is $3.13 and its 200-day moving average is $3.00.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The company had revenue of $1.44 million for the quarter. On average, equities research analysts anticipate that Nuvation Bio Inc. will post -0.33 EPS for the current fiscal year.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, Director Xiangmin Cui purchased 336,874 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average price of $2.98 per share, with a total value of $1,003,884.52. Following the transaction, the director now owns 2,175,236 shares in the company, valued at $6,482,203.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 36.09% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently bought and sold shares of NUVB. Vanguard Group Inc. lifted its position in shares of Nuvation Bio by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after buying an additional 219,533 shares in the last quarter. Acadian Asset Management LLC raised its position in Nuvation Bio by 81.9% in the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock worth $4,273,000 after acquiring an additional 528,660 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Nuvation Bio by 551.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after acquiring an additional 1,146,794 shares during the period. Octagon Capital Advisors LP bought a new stake in shares of Nuvation Bio in the 4th quarter worth approximately $1,510,000. Finally, Panagora Asset Management Inc. lifted its stake in Nuvation Bio by 198.7% in the second quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock valued at $1,850,000 after purchasing an additional 421,563 shares during the last quarter. 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.