Nuvation Bio (NYSE:NUVB) Shares Gap Up – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) shares gapped up before the market opened on Monday . The stock had previously closed at $2.68, but opened at $2.82. Nuvation Bio shares last traded at $2.60, with a volume of 468,349 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. HC Wainwright decreased their target price on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada increased their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Monday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Stock Performance

The firm has a market capitalization of $949.12 million, a P/E ratio of -1.30 and a beta of 1.46. The stock has a 50 day moving average of $2.64 and a 200-day moving average of $2.83.

Nuvation Bio (NYSE:NUVB) last released 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. As a group, sell-side analysts expect that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Insider Activity at Nuvation Bio

In other news, Director Robert Mashal purchased 100,000 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $220,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently made changes to their positions in NUVB. B. Riley Wealth Advisors Inc. purchased a new position in Nuvation Bio in the second quarter worth $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Nuvation Bio by 913.2% in the 2nd 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 in the last quarter. Xponance Inc. purchased a new position in shares of Nuvation Bio in the 2nd quarter worth about $33,000. Caxton Associates LP bought a new position in shares of Nuvation Bio during the 2nd quarter valued at about $43,000. Finally, Choreo LLC purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at about $47,000. 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.