Nuvation Bio (NYSE:NUVB) Trading Down 4.3%

Nuvation Bio Inc. (NYSE:NUVB)’s stock price traded down 4.3% during trading on Wednesday . The stock traded as low as $2.19 and last traded at $2.20. 21,088 shares were traded during trading, a decline of 99% from the average session volume of 1,411,757 shares. The stock had previously closed at $2.30.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NUVB shares. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, September 11th. HC Wainwright dropped their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Nuvation Bio presently has an average rating of “Buy” and an average target price of $6.40.

Nuvation Bio Stock Down 5.7 %

The company has a market cap of $536.36 million, a PE ratio of -7.40 and a beta of 1.38. The firm’s 50-day moving average is $2.99 and its 200-day moving average is $3.02.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The business had revenue of $1.44 million during the quarter. As a group, equities research analysts anticipate that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Octagon Capital Advisors LP bought a new stake in shares of Nuvation Bio during the 4th quarter valued at $1,510,000. Susquehanna Fundamental Investments LLC bought a new stake in Nuvation Bio during the first quarter worth about $79,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Nuvation Bio in the first quarter worth about $105,000. Vanguard Group Inc. increased its stake in shares of Nuvation Bio by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after purchasing an additional 219,533 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Nuvation Bio by 81.9% during the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after purchasing an additional 528,660 shares during the last quarter. 61.67% of the stock is 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.