Insider Buying: Nuvation Bio Inc. (NYSE:NUVB) Director Acquires 100,000 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) Director Robert Mashal bought 100,000 shares of the business's stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price of $2.20 per share, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Nuvation Bio Price Performance

NUVB traded down $0.21 on Thursday, hitting $2.00. The company had a trading volume of 1,681,195 shares, compared to its average volume of 1,423,291. The stock has a fifty day simple moving average of $2.82 and a 200-day simple moving average of $3.02. The firm has a market capitalization of $494.34 million, a P/E ratio of -6.77 and a beta of 1.36. Nuvation Bio Inc. has a 52-week low of $0.95 and a 52-week high of $4.16.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The company had revenue of $1.44 million during the quarter. Equities research analysts expect that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently made changes to their positions in NUVB. SG Americas Securities LLC increased its holdings in shares of Nuvation Bio by 125.8% in the 3rd quarter. SG Americas Securities LLC now owns 72,057 shares of the company's stock worth $165,000 after purchasing an additional 40,141 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nuvation Bio during the 2nd quarter valued at $29,000. Algert Global LLC increased its holdings in Nuvation Bio by 281.0% in the 2nd quarter. Algert Global LLC now owns 426,603 shares of the company's stock worth $1,246,000 after acquiring an additional 314,635 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Nuvation Bio by 252.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 76,494 shares of the company's stock worth $223,000 after buying an additional 54,762 shares during the period. Finally, AQR Capital Management LLC increased its stake in Nuvation Bio by 508.1% in the 2nd quarter. AQR Capital Management LLC now owns 111,583 shares of the company's stock worth $326,000 after buying an additional 93,233 shares in the last quarter. Institutional investors own 61.67% of the company's stock.

Wall Street Analyst Weigh In

NUVB has been the topic of several recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. HC Wainwright cut their price objective 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. Finally, Wedbush restated an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a report on Wednesday, September 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $6.40.

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.

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