Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) shares rose 8.3% during trading on Monday . The stock traded as high as $2.31 and last traded at $2.30. Approximately 3,115,498 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 2,360,333 shares. The stock had previously closed at $2.12.
Wall Street Analyst Weigh In
NUVB has been the subject of several recent analyst reports. HC Wainwright reduced their price target on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, March 10th. Jones Trading started coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price objective for the company. Citizens Jmp started coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $6.00 price objective on shares of Nuvation Bio in a research note on Monday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, May 15th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $7.83.
Read Our Latest Analysis on NUVB
Nuvation Bio Price Performance
The firm has a market cap of $833.64 million, a price-to-earnings ratio of -1.13 and a beta of 1.37. The business has a 50 day moving average of $2.07 and a 200 day moving average of $2.32.
Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting analysts' consensus estimates of ($0.16). The company had revenue of $3.08 million for the quarter, compared to analyst estimates of $0.42 million. Research analysts predict that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.
Insider Activity
In other news, CEO David Hung purchased 200,000 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $1.66 per share, with a total value of $332,000.00. Following the completion of the transaction, the chief executive officer now owns 58,481,054 shares in the company, valued at approximately $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the business's stock in a transaction dated 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 now directly owns 12,000 shares of the company's stock, valued at approximately $30,000. This trade represents a 62.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.93% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Nuvation Bio in the fourth quarter worth about $27,000. Forum Financial Management LP acquired a new position in shares of Nuvation Bio in the fourth quarter worth about $29,000. Cerity Partners LLC acquired a new stake in Nuvation Bio during the fourth quarter valued at approximately $31,000. Firethorn Wealth Partners LLC acquired a new stake in Nuvation Bio during the first quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. raised its stake in Nuvation Bio by 15,183.7% during the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock valued at $42,000 after buying an additional 15,791 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.
About Nuvation Bio
(
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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.
Further Reading
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