Nuvation Bio (NYSE:NUVB) Earns “Outperform” Rating from Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research note issued on Monday,RTT News reports. They presently have a $5.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 77.30% from the company’s previous close.

A number of other research firms also recently issued reports on NUVB. 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 note on Monday, September 16th. Royal Bank of Canada increased their target price on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio has a consensus rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $2.82 on Monday. The stock has a market cap of $949.12 million, a price-to-earnings ratio of -1.30 and a beta of 1.46. Nuvation Bio has a 1-year low of $1.43 and a 1-year high of $4.16. The firm has a 50 day simple moving average of $2.63 and a 200-day simple moving average of $2.83.

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

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal bought 100,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at $220,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 5.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in NUVB. Wellington Management Group LLP lifted its position in shares of Nuvation Bio by 83.3% during the 3rd quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock worth $1,429,000 after buying an additional 283,642 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Nuvation Bio by 415.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after acquiring an additional 820,669 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Nuvation Bio during the third quarter worth about $634,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Nuvation Bio in the 3rd quarter valued at about $2,790,000. Finally, FMR LLC grew its stake in Nuvation Bio by 1.4% during the 3rd quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after buying an additional 416,932 shares during the last quarter. Institutional investors and hedge funds 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.