Nuvation Bio Inc. (NYSE:NUVB - Get Free Report)'s stock price gapped up before the market opened 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.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. JMP Securities reissued a "market outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a research note on Wednesday, June 25th. Citigroup assumed coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They set an "outperform" rating on the stock. Wedbush reissued an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Wednesday, June 11th. Royal Bank Of Canada raised shares of Nuvation Bio from an "outperform" rating to a "moderate buy" rating and reduced their price objective for the stock from $10.00 to $6.00 in a research note on Tuesday, June 17th. Finally, Citizens Jmp began coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $7.17.
Get Our Latest Stock Report on Nuvation Bio
Nuvation Bio Price Performance
The stock's 50 day simple moving average is $2.14 and its two-hundred day simple moving average is $2.20. The stock has a market cap of $748.57 million, a P/E ratio of -0.94 and a beta of 1.33.
Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, hitting analysts' consensus estimates of ($0.16). The business had revenue of $3.08 million for the quarter, compared to analyst estimates of $0.42 million. Nuvation Bio had a negative net margin of 5,534.21% and a negative return on equity of 44.14%. As a group, analysts forecast that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.
Insider Activity at Nuvation Bio
In other news, insider Dongfang Liu sold 20,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the sale, the insider owned 12,000 shares of the company's stock, valued at $30,000. The trade was a 62.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.93% of the stock is currently owned by corporate insiders.
Institutional Trading of Nuvation Bio
A number of institutional investors have recently made changes to their positions in NUVB. Wealth Enhancement Advisory Services LLC acquired a new position in Nuvation Bio during the second quarter worth $65,000. Pallas Capital Advisors LLC increased its holdings in Nuvation Bio by 108.7% during the second quarter. Pallas Capital Advisors LLC now owns 42,319 shares of the company's stock worth $83,000 after buying an additional 22,040 shares during the last quarter. Exome Asset Management LLC acquired a new position in Nuvation Bio during the first quarter worth $170,000. Millennium Management LLC increased its holdings in Nuvation Bio by 52.4% during the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock worth $6,642,000 after buying an additional 1,298,131 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Nuvation Bio by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company's stock worth $191,000 after buying an additional 4,608 shares during the last quarter. Institutional investors own 61.67% of the company's stock.
Nuvation Bio Company Profile
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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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