Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $2.77, but opened at $2.71. Nuvation Bio shares last traded at $2.80, with a volume of 390,986 shares changing hands.
Analyst Ratings Changes
A number of analysts have commented on NUVB shares. 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 note on Thursday, November 7th. HC Wainwright reduced their price target on Nuvation Bio from $8.00 to $7.00 and set a "buy" rating for the company in a report on Monday, September 16th. Finally, Wedbush restated an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio presently has a consensus rating of "Buy" and a consensus target price of $6.60.
Read Our Latest Research Report on NUVB
Nuvation Bio Stock Performance
The firm has a market cap of $959.22 million, a P/E ratio of -1.31 and a beta of 1.46. The firm's fifty day moving average is $2.53 and its 200 day moving average is $2.86.
Nuvation Bio (NYSE:NUVB - Get Free Report) 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 firm had revenue of $0.73 million during the quarter. As a group, equities research analysts forecast that Nuvation Bio Inc. will post -0.4 EPS for the current year.
Insider Buying and Selling at Nuvation Bio
In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the business's stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price of $2.20 per share, with a total value of $220,000.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.07% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in Nuvation Bio by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company's stock worth $9,227,000 after purchasing an additional 196,247 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in shares of Nuvation Bio in the 3rd quarter valued at approximately $2,790,000. XTX Topco Ltd bought a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $302,000. Zacks Investment Management boosted its position in shares of 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 acquiring an additional 6,394 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Nuvation Bio by 83.3% in the third quarter. Wellington Management Group LLP now owns 623,973 shares of the company's stock valued at $1,429,000 after acquiring an additional 283,642 shares during the last quarter. 61.67% of the stock is owned by institutional investors.
About Nuvation Bio
(
Get Free Report)
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.
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