Nuvation Bio (NYSE:NUVB) Shares Up 5% – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) shares traded up 5% during trading on Thursday . The company traded as high as $2.74 and last traded at $2.74. 1,087,569 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 1,566,568 shares. The stock had previously closed at $2.61.

Analyst Upgrades and Downgrades

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

Nuvation Bio Trading Up 3.4 %

The firm’s fifty day moving average is $2.60 and its 200 day moving average is $2.84. The company has a market cap of $908.73 million, a PE ratio of -1.24 and a beta of 1.46.

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

Insider Buying and Selling

In related news, Director Robert Mashal purchased 100,000 shares of the company’s 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 directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.07% of the stock is owned by company insiders.

Institutional Trading of Nuvation Bio

Several large investors have recently added to or reduced their stakes in NUVB. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio in the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its position in Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after acquiring an additional 10,000 shares in the last quarter. Xponance Inc. purchased a new stake in Nuvation Bio during the 2nd quarter worth approximately $33,000. Caxton Associates LP purchased a new stake in shares of Nuvation Bio during the second quarter worth $43,000. Finally, Choreo LLC acquired a new stake in Nuvation Bio in the 2nd quarter valued at about $47,000. 61.67% of the stock is currently 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.