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

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research note issued on Monday,RTT News reports. They currently have a $5.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 87.27% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada lifted their target price on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. HC Wainwright lowered their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Price Performance

NYSE:NUVB traded down $0.01 during trading hours on Monday, reaching $2.67. 2,259,783 shares of the stock were exchanged, compared to its average volume of 1,607,589. Nuvation Bio has a twelve month low of $1.43 and a twelve month high of $4.16. The stock has a market cap of $898.63 million, a PE ratio of -1.23 and a beta of 1.46. The firm has a 50 day moving average of $2.62 and a 200 day moving average of $2.84.

Nuvation Bio (NYSE:NUVB) last released its 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. Equities research analysts anticipate that Nuvation Bio will post -0.4 earnings per share for the current year.

Insider Activity at Nuvation Bio

In related news, Director Robert Mashal acquired 100,000 shares of Nuvation Bio 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 completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $220,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.07% of the stock is currently owned by company insiders.

Institutional Trading of Nuvation Bio

Hedge funds have recently modified their holdings of the stock. Zacks Investment Management increased its position in Nuvation Bio by 21.5% during the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after buying an additional 6,394 shares during the period. Principal Financial Group Inc. increased its position in Nuvation Bio by 58.7% during the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock worth $76,000 after acquiring an additional 9,603 shares during the period. EverSource Wealth Advisors LLC raised its stake in 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. B. Riley Wealth Advisors Inc. bought a new stake in Nuvation Bio in the 2nd quarter valued at about $29,000. Finally, Xponance Inc. acquired a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $33,000. 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.