Nuvation Bio (NYSE:NUVB) Shares Up 4.1% - Time to Buy?

Shares of Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) rose 4.1% during mid-day trading on Thursday . The company traded as high as $2.33 and last traded at $2.30. Approximately 335,584 shares traded hands during trading, a decline of 76% from the average daily volume of 1,412,262 shares. The stock had previously closed at $2.21.

Wall Street Analyst Weigh In

NUVB has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Tuesday, August 6th. HC Wainwright reduced their price target 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. Finally, Wedbush reiterated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Wednesday, September 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio presently has a consensus rating of "Buy" and an average target price of $6.40.

Nuvation Bio Trading Up 5.9 %

The stock's 50 day moving average price is $2.93 and its two-hundred day moving average price is $3.01. The firm has a market capitalization of $578.38 million, a PE ratio of -7.55 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. Analysts expect that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Nuvation Bio by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company's stock worth $27,424,000 after acquiring an additional 219,533 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Nuvation Bio by 551.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company's stock worth $4,932,000 after acquiring an additional 1,146,794 shares during the period. Acadian Asset Management LLC grew its stake in Nuvation Bio by 81.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company's stock worth $4,273,000 after acquiring an additional 528,660 shares during the period. Dimensional Fund Advisors LP grew its stake in Nuvation Bio by 415.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company's stock worth $2,975,000 after acquiring an additional 820,669 shares during the period. Finally, Octagon Capital Advisors LP purchased a new stake in Nuvation Bio in the 4th quarter worth approximately $1,510,000. 61.67% of the stock is 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.