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Nuvation Bio (NYSE:NUVB) Shares Gap Up - What's Next?

Nuvation Bio logo with Medical background

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.05, but opened at $2.14. Nuvation Bio shares last traded at $2.23, with a volume of 2,024,606 shares.

Analyst Ratings Changes

Several research analysts have recently commented on NUVB shares. Jones Trading assumed coverage on Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price for the company. Citigroup initiated coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They set an "outperform" rating on the stock. Wedbush reaffirmed an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 11th. Royal Bank Of Canada raised Nuvation Bio from an "outperform" rating to a "moderate buy" rating and cut their target price for the company from $10.00 to $6.00 in a research note on Tuesday, June 17th. Finally, JMP Securities restated a "market outperform" rating and issued a $6.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nuvation Bio presently has a consensus rating of "Moderate Buy" and an average price target of $7.17.

Get Our Latest Analysis on Nuvation Bio

Nuvation Bio Stock Up 13.8%

The stock has a market capitalization of $793.83 million, a price-to-earnings ratio of -1.00 and a beta of 1.33. The firm has a 50-day moving average of $2.14 and a two-hundred day moving average of $2.20.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $0.42 million. Nuvation Bio had a negative return on equity of 44.14% and a negative net margin of 5,534.21%. As a group, sell-side analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other news, insider Dongfang Liu sold 20,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the sale, the insider directly owned 12,000 shares of the company's stock, valued at $30,000. This trade represents a 62.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.93% of the company's stock.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nuvation Bio in the 4th quarter valued at approximately $27,000. Forum Financial Management LP bought a new position in shares of Nuvation Bio in the 4th quarter valued at approximately $29,000. Cerity Partners LLC bought a new position in shares of Nuvation Bio in the 4th quarter valued at approximately $31,000. Russell Investments Group Ltd. raised its stake in shares of Nuvation Bio by 15,183.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock valued at $42,000 after acquiring an additional 15,791 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Nuvation Bio in the 4th quarter valued at approximately $45,000. 61.67% of the stock is owned by hedge funds and other 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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