Nuvation Bio Inc. (NYSE:NUVB – Get Free Report) was down 2.8% during mid-day trading on Tuesday . The company traded as low as $3.04 and last traded at $3.07. Approximately 103,405 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,347,909 shares. The stock had previously closed at $3.16.
Wall Street Analyst Weigh In
NUVB has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Jefferies Financial Group upgraded shares of Nuvation Bio from a “hold” rating to a “buy” rating and raised their target price for the stock from $1.40 to $10.00 in a report on Wednesday, March 27th. BTIG Research raised shares of Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Tuesday, March 26th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Nuvation Bio in a report on Monday, June 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Friday, May 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $6.60.
Get Our Latest Stock Analysis on Nuvation Bio
Nuvation Bio Trading Down 5.7 %
Nuvation Bio (NYSE:NUVB – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. On average, sell-side analysts forecast that Nuvation Bio Inc. will post -0.31 earnings per share for the current year.
Insider Transactions at Nuvation Bio
In related news, Director Xiangmin Cui acquired 87,715 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $2.99 per share, with a total value of $262,267.85. Following the purchase, the director now owns 1,762,951 shares of the company’s stock, valued at $5,271,223.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Xiangmin Cui bought 87,715 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $2.99 per share, for a total transaction of $262,267.85. Following the acquisition, the director now directly owns 1,762,951 shares of the company’s stock, valued at approximately $5,271,223.49. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kim D. Blickenstaff purchased 172,189 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of $2.90 per share, with a total value of $499,348.10. Following the completion of the acquisition, the director now directly owns 172,189 shares of the company’s stock, valued at $499,348.10. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 596,778 shares of company stock worth $1,765,500. 36.09% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Nuvation Bio
Large investors have recently bought and sold shares of the stock. Beacon Pointe Advisors LLC acquired a new position in shares of Nuvation Bio in the fourth quarter valued at $33,000. Gladius Capital Management LP raised its stake in shares of Nuvation Bio by 92.6% in the 4th quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock valued at $47,000 after buying an additional 14,885 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Nuvation Bio during the 1st quarter worth about $79,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Nuvation Bio during the 1st quarter valued at about $105,000. Finally, Acadian Asset Management LLC boosted its position in shares of Nuvation Bio by 258.9% during the 3rd quarter. Acadian Asset Management LLC now owns 113,717 shares of the company’s stock valued at $150,000 after acquiring an additional 82,031 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than Nuvation Bio
- What is a Low P/E Ratio and What Does it Tell Investors?
- RXO Shares Surge Following New Acquisition Deal
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- 3 Stock Dips Insiders Are Buying: Vestis, Shenandoah, Treace
- Best Stocks Under $10.00
- Biotech Stock Breakout: IBB Eyes Resistance with Amgen and Vertex
Receive News & Ratings for Nuvation Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvation Bio and related companies with MarketBeat.com's FREE daily email newsletter.