Nuvation Bio (NYSE:NUVB) Stock Price Down 4.3% – What’s Next?

by · The Markets Daily

Nuvation Bio Inc. (NYSE:NUVB – Get Free Report)’s stock price dropped 4.3% on Friday . The company traded as low as $2.20 and last traded at $2.20. Approximately 78,666 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 1,415,155 shares. The stock had previously closed at $2.30.

Analyst Ratings Changes

A number of brokerages have issued reports on NUVB. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday. HC Wainwright cut their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio has an average rating of “Buy” and an average price target of $6.40.

Get Our Latest Report on NUVB

Nuvation Bio Price Performance

The company has a market capitalization of $568.27 million, a price-to-earnings ratio of -1.04 and a beta of 1.36. The firm has a 50-day moving average price of $2.68 and a two-hundred day moving average price of $2.94.

Nuvation Bio (NYSE:NUVB – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The business had revenue of $1.44 million for the quarter. On average, equities analysts predict that Nuvation Bio Inc. will post -0.41 EPS for the current year.

Insider Transactions at Nuvation Bio

In other news, Director Robert Mashal acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $220,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 5.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nuvation Bio during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC grew its holdings in Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after acquiring an additional 10,000 shares during the period. Xponance Inc. bought a new position in shares of Nuvation Bio in the 2nd quarter worth about $33,000. Caxton Associates LP bought a new stake in shares of Nuvation Bio during the 2nd quarter valued at about $43,000. Finally, Choreo LLC bought a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $47,000. 61.67% of the stock is currently owned by institutional investors.

About Nuvation Bio

(Get Free Report)

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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