Wedbush Reiterates Outperform Rating for Nuvation Bio (NYSE:NUVB)

Wedbush reissued their outperform rating on shares of Nuvation Bio (NYSE:NUVB - Free Report) in a report issued on Monday morning,RTT News reports. They currently have a $5.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. HC Wainwright reissued a "buy" rating and set a $7.00 target price on shares of Nuvation Bio in a report on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio currently has a consensus rating of "Buy" and an average price target of $6.60.

Nuvation Bio Stock Down 2.1 %

NUVB stock traded down $0.06 during trading on Monday, hitting $2.83. 2,803,863 shares of the company's stock traded hands, compared to its average volume of 2,269,721. The stock has a fifty day moving average price of $2.71 and a two-hundred day moving average price of $2.82. Nuvation Bio has a 52 week low of $1.43 and a 52 week high of $4.16. The stock has a market capitalization of $952.48 million, a price-to-earnings ratio of -1.30 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced 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 firm had revenue of $0.73 million during the quarter. As a group, equities research analysts expect that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, Director Robert Mashal bought 100,000 shares of Nuvation Bio stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.07% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Zacks Investment Management grew its holdings 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 valued at $83,000 after acquiring an additional 6,394 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Nuvation Bio by 58.7% during the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company's stock worth $76,000 after purchasing an additional 9,603 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company's stock valued at $32,000 after purchasing an additional 10,000 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio in the 2nd quarter worth approximately $29,000. Finally, Xponance Inc. acquired a new position in shares of Nuvation Bio during the second quarter worth approximately $33,000. 61.67% of the stock is owned by institutional investors and hedge funds.

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.