Nuvation Bio (NYSE:NUVB) Sees Large Volume Increase

Nuvation Bio Inc. (NYSE:NUVB) shares saw strong trading volume on Wednesday . 1,599,986 shares traded hands during trading, an increase of 17% from the previous session’s volume of 1,363,411 shares.The stock last traded at $3.24 and had previously closed at $3.21.

Analysts Set New Price Targets

NUVB has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. 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 reissued a “buy” rating and issued a $8.00 price target on shares of Nuvation Bio in a research report on Monday, June 3rd. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Friday, May 24th. Finally, Jefferies Financial Group raised Nuvation Bio from a “hold” rating to a “buy” rating and boosted their target price for the company from $1.40 to $10.00 in a report on Wednesday, March 27th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Stock Performance

The company’s 50-day simple moving average is $3.07 and its 200-day simple moving average is $2.48.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Tuesday, May 14th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. As a group, equities analysts anticipate that Nuvation Bio Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In related news, Director Kim D. Blickenstaff purchased 172,189 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost 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 in the company, valued at $499,348.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Kim D. Blickenstaff purchased 172,189 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost 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 approximately $499,348.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Xiangmin Cui acquired 87,715 shares of the stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost 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 in the company, valued at approximately $5,271,223.49. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 596,778 shares of company stock worth $1,765,500. 36.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NUVB. Price T Rowe Associates Inc. MD grew its stake in shares of Nuvation Bio by 551.8% during the 1st 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 during the period. Octagon Capital Advisors LP purchased a new position in Nuvation Bio in the fourth quarter valued at about $1,510,000. Jacobs Levy Equity Management Inc. increased its holdings in Nuvation Bio by 254.1% in the first 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. Acadian Asset Management LLC lifted 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 valued at $4,273,000 after acquiring an additional 528,660 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Nuvation Bio by 219.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 738,831 shares of the company’s stock worth $1,116,000 after acquiring an additional 507,452 shares in the last quarter. 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.