Nuvation Bio Target of Unusually Large Options Trading (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock investors purchased 7,110 put options on the company. This represents an increase of approximately 7,800% compared to the average daily volume of 90 put options.

Nuvation Bio Stock Down 1.6 %

Shares of Nuvation Bio stock traded down $0.03 on Monday, hitting $1.86. The stock had a trading volume of 2,258,696 shares, compared to its average volume of 1,975,641. Nuvation Bio has a one year low of $1.67 and a one year high of $4.16. The stock's 50-day simple moving average is $2.26 and its two-hundred day simple moving average is $2.51. The stock has a market cap of $629.94 million, a price-to-earnings ratio of -0.86 and a beta of 1.47.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently modified their holdings of the company. FMR LLC grew its stake in shares of Nuvation Bio by 54.9% in the fourth quarter. FMR LLC now owns 45,285,572 shares of the company's stock worth $120,460,000 after purchasing an additional 16,046,701 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Nuvation Bio by 45.4% in the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock worth $41,849,000 after buying an additional 4,913,820 shares during the period. Geode Capital Management LLC grew its position in shares of Nuvation Bio by 22.9% in the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock worth $13,174,000 after buying an additional 922,503 shares during the last quarter. State Street Corp grew its position in shares of Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company's stock worth $9,541,000 after buying an additional 191,031 shares during the last quarter. Finally, MPM Bioimpact LLC purchased a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $11,077,000. Hedge funds and other institutional investors own 61.67% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NUVB shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Jones Trading assumed coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They set a "buy" rating and a $10.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, March 3rd. Finally, HC Wainwright reduced their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $8.33.

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.