Nuvation Bio (NYSE:NUVB - Free Report) had its price objective boosted by Royal Bank of Canada from $5.00 to $6.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
NUVB has been the subject of a number of other reports. Wedbush reiterated an "outperform" rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Thursday. HC Wainwright reduced their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $6.60.
View Our Latest Analysis on NUVB
Nuvation Bio Stock Up 2.8 %
Shares of NYSE NUVB traded up $0.07 during midday trading on Thursday, reaching $2.61. 2,765,873 shares of the company's stock traded hands, compared to its average volume of 1,441,390. The company has a market cap of $650.53 million, a price-to-earnings ratio of -1.24 and a beta of 1.35. Nuvation Bio has a one year low of $1.21 and a one year high of $4.16. The stock's 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.90.
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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). The firm had revenue of $0.73 million during the quarter. Equities analysts predict that Nuvation Bio will post -0.29 EPS for the current fiscal year.
Insider Activity at Nuvation Bio
In related news, Director Robert Mashal purchased 100,000 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now owns 100,000 shares of the company's stock, valued at $220,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.07% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Nuvation Bio
Several large investors have recently made changes to their positions in NUVB. Vanguard Group Inc. lifted its position in shares of Nuvation Bio by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company's stock valued at $27,424,000 after buying an additional 219,533 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company's stock worth $4,932,000 after purchasing an additional 1,146,794 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Nuvation Bio by 81.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company's stock worth $4,273,000 after purchasing an additional 528,660 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nuvation Bio by 415.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company's stock worth $2,975,000 after purchasing an additional 820,669 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Nuvation Bio by 254.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company's stock valued at $2,726,000 after buying an additional 537,314 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.
Nuvation Bio Company Profile
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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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