Nuvation Bio (NYSE:NUVB) Stock Price Down 4.3% - What's Next?

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) traded down 4.3% during mid-day trading on Friday . The company traded as low as $2.20 and last traded at $2.20. 78,666 shares traded hands during trading, a decline of 94% from the average session volume of 1,415,155 shares. The stock had previously closed at $2.30.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several analyst reports. Wedbush reaffirmed an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Tuesday, August 6th. Finally, HC Wainwright cut their price objective on Nuvation Bio from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, September 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $6.40.

Nuvation Bio Stock Down 4.8 %

The business has a 50-day simple moving average of $2.68 and a 200-day simple moving average of $2.94. The company has a market cap of $545.84 million, a PE ratio of -1.04 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.09). The company had revenue of $1.44 million during the quarter. As a group, equities research analysts predict that Nuvation Bio Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity at Nuvation Bio

In related news, Director Robert Mashal acquired 100,000 shares of the business's stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company's stock, valued at $220,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.07% of the company's stock.

Institutional Trading of Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in Nuvation Bio during the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its stake in Nuvation Bio by 913.2% during the second 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 during the last quarter. Xponance Inc. acquired a new position in Nuvation Bio in the second quarter valued at approximately $33,000. Caxton Associates LP acquired a new stake in Nuvation Bio during the second quarter worth approximately $43,000. Finally, Choreo LLC purchased a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $47,000. 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.