Nuvation Bio (NYSE:NUVB) Trading Up 7.2% - Time to Buy?

Key Points

• Nuvation Bio's stock rose 7.2% to $3.97, although trading volume decreased by 44% compared to the average.
• A consensus rating for Nuvation Bio currently stands at Moderate Buy, with target prices ranging from $6.00 to $10.00 set by several analysts.
• Institutional investors hold 61.67% of Nuvation Bio's stock, with several firms significantly increasing their positions in the last quarter.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) shot up 7.2% on Tuesday . The stock traded as high as $3.89 and last traded at $3.97. 2,670,727 shares traded hands during trading, a decline of 44% from the average session volume of 4,793,430 shares. The stock had previously closed at $3.70.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wedbush reissued an "outperform" rating and set a $6.00 price target on shares of Nuvation Bio in a report on Monday, October 13th. HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of Nuvation Bio in a research note on Friday, September 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Nuvation Bio in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Nuvation Bio from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.86.

Nuvation Bio Price Performance

The company has a 50 day moving average price of $3.25 and a 200-day moving average price of $2.54. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -6.61 and a beta of 1.48. The company has a quick ratio of 9.38, a current ratio of 9.39 and a debt-to-equity ratio of 0.13.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.17). Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. The firm had revenue of $4.83 million for the quarter, compared to analyst estimates of $0.42 million. As a group, equities research analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC grew its position in shares of Nuvation Bio by 11.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 60,951 shares of the company's stock valued at $107,000 after buying an additional 6,403 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in Nuvation Bio by 67.8% in the first quarter. Palumbo Wealth Management LLC now owns 109,643 shares of the company's stock valued at $193,000 after acquiring an additional 44,283 shares during the last quarter. GSA Capital Partners LLP increased its position in Nuvation Bio by 172.9% during the 1st quarter. GSA Capital Partners LLP now owns 661,052 shares of the company's stock valued at $1,163,000 after purchasing an additional 418,799 shares during the period. XTX Topco Ltd raised its holdings in Nuvation Bio by 424.9% during the 1st quarter. XTX Topco Ltd now owns 55,564 shares of the company's stock worth $98,000 after purchasing an additional 44,979 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Nuvation Bio by 11.3% in the 1st quarter. Invesco Ltd. now owns 367,772 shares of the company's stock valued at $647,000 after purchasing an additional 37,384 shares during the last quarter. 61.67% of the stock is owned by institutional investors and hedge funds.

About Nuvation Bio

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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