Nuvation Bio (NYSE:NUVB) Given Buy Rating at HC Wainwright

Nuvation Bio (NYSE:NUVB)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 142.21% from the company’s current price.

NUVB has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, December 23rd. Royal Bank of Canada raised their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Price Performance

NYSE NUVB opened at $2.89 on Monday. The company has a market capitalization of $972.68 million, a price-to-earnings ratio of -1.33 and a beta of 1.46. Nuvation Bio has a 12 month low of $1.43 and a 12 month high of $4.16. The company’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $2.82.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. As a group, analysts anticipate that Nuvation Bio will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of Nuvation Bio stock in a transaction dated Tuesday, October 8th. The stock was acquired 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 owns 100,000 shares in the company, valued at approximately $220,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.07% of the stock is owned by insiders.

Institutional Trading of Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in NUVB. Bank of New York Mellon Corp increased its holdings in shares of Nuvation Bio by 33.6% during the second quarter. Bank of New York Mellon Corp now owns 626,905 shares of the company’s stock valued at $1,831,000 after purchasing an additional 157,511 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Nuvation Bio during the 2nd quarter worth about $126,000. Principal Financial Group Inc. lifted its stake in shares of Nuvation Bio by 58.7% in the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock worth $76,000 after acquiring an additional 9,603 shares during the period. Rhumbline Advisers boosted its holdings in shares of Nuvation Bio by 25.7% in the second quarter. Rhumbline Advisers now owns 260,939 shares of the company’s stock valued at $762,000 after acquiring an additional 53,389 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of Nuvation Bio during the second quarter valued at approximately $110,000. Institutional investors own 61.67% of the company’s stock.

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.