Nuvation Bio’s (NUVB) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note published on Tuesday morning, Benzinga reports. Wedbush currently has a $5.00 target price on the stock.

NUVB has been the topic of a number of other research reports. HC Wainwright reduced their target price on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.40.

Nuvation Bio Trading Up 2.1 %

Shares of NUVB opened at $2.41 on Tuesday. Nuvation Bio has a 1 year low of $0.95 and a 1 year high of $4.16. The stock has a market cap of $600.67 million, a P/E ratio of -1.14 and a beta of 1.36. The stock’s 50-day moving average price is $2.70 and its two-hundred day moving average price is $2.96.

Nuvation Bio (NYSE:NUVB) last issued its earnings results 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 business had revenue of $1.44 million during the quarter. As a group, equities analysts forecast that Nuvation Bio will post -0.4 EPS for the current year.

Insider Activity

In related news, Director Robert Mashal acquired 100,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was bought 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 directly owns 100,000 shares of the company’s stock, valued at $220,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Nuvation Bio by 58.7% during the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after buying an additional 9,603 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after purchasing an additional 10,000 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Nuvation Bio in the second quarter worth $29,000. Xponance Inc. purchased a new position in Nuvation Bio in the second quarter worth $33,000. Finally, Caxton Associates LP purchased a new position in Nuvation Bio in the second quarter worth $43,000. Hedge funds and other 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.