Nuvation Bio (NYSE:NUVB) Stock Price Down 13.4%

Nuvation Bio Inc. (NYSE:NUVB)’s share price was down 13.4% on Monday . The company traded as low as $2.90 and last traded at $2.91. Approximately 63,654 shares were traded during trading, a decline of 95% from the average daily volume of 1,367,241 shares. The stock had previously closed at $3.36.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NUVB shares. Royal Bank of Canada increased their target price on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Nuvation Bio in a research note on Wednesday, July 17th. Finally, Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Friday, May 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $6.60.

Nuvation Bio Stock Performance

The firm has a market capitalization of $778.59 million, a PE ratio of -9.16 and a beta of 1.40. The company’s 50 day simple moving average is $3.13 and its 200-day simple moving average is $2.72.

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

Insider Transactions at Nuvation Bio

In related news, Director Kim D. Blickenstaff purchased 172,189 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 172,189 shares of the company’s stock, valued at $499,348.10. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Nuvation Bio news, Director Xiangmin Cui bought 336,874 shares of Nuvation Bio stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $2.98 per share, with a total value of $1,003,884.52. Following the acquisition, the director now owns 2,175,236 shares in the company, valued at $6,482,203.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kim D. Blickenstaff bought 172,189 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $2.90 per share, for a total transaction of $499,348.10. Following the acquisition, the director now owns 172,189 shares in the company, valued at approximately $499,348.10. The disclosure for this purchase can be found here. Insiders have purchased 596,778 shares of company stock valued at $1,765,500 in the last quarter. Insiders own 36.09% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently made changes to their positions in NUVB. Beacon Pointe Advisors LLC bought a new stake in Nuvation Bio in the 4th quarter worth $33,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Nuvation Bio in the 1st quarter worth about $79,000. Principal Financial Group Inc. lifted its position in shares of Nuvation Bio by 58.7% in the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock worth $76,000 after purchasing an additional 9,603 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Nuvation Bio in the 1st quarter worth about $105,000. Finally, Gladius Capital Management LP lifted its position 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 worth $47,000 after purchasing an additional 14,885 shares during the period. 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.