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

Nuvation Bio (NYSE:NUVB - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Wedbush in a research report issued on Tuesday, Benzinga reports. They presently have a $5.00 price target on the stock. Wedbush's target price would suggest a potential upside of 107.47% from the company's previous close.

A number of other equities research analysts also recently issued reports on the company. HC Wainwright decreased 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. Royal Bank of Canada reissued an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $6.40.

Nuvation Bio Trading Up 2.1 %

Shares of NUVB stock traded up $0.05 on Tuesday, reaching $2.41. The company's stock had a trading volume of 1,005,076 shares, compared to its average volume of 1,718,451. The stock's fifty day simple moving average is $2.70 and its 200-day simple moving average is $2.96. Nuvation Bio has a 1 year low of $0.95 and a 1 year high of $4.16.

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

Insiders Place Their Bets

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the company's stock in a transaction that occurred on 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 acquisition, the director now directly owns 100,000 shares in the company, valued at $220,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in 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 acquiring an additional 40,141 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio in the second quarter worth approximately $29,000. Algert Global LLC increased its holdings in Nuvation Bio by 281.0% during the 2nd quarter. Algert Global LLC now owns 426,603 shares of the company's stock worth $1,246,000 after purchasing an additional 314,635 shares during the period. Susquehanna Fundamental Investments LLC increased its holdings in Nuvation Bio by 252.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 76,494 shares of the company's stock worth $223,000 after purchasing an additional 54,762 shares during the period. Finally, AQR Capital Management LLC raised its position in Nuvation Bio by 508.1% during the 2nd quarter. AQR Capital Management LLC now owns 111,583 shares of the company's stock valued at $326,000 after purchasing an additional 93,233 shares in the last quarter. Institutional investors 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.