Nuvation Bio (NYSE:NUVB) Stock Price Up 3.3%

Nuvation Bio Inc. (NYSE:NUVB) shares traded up 3.3% during mid-day trading on Thursday . The company traded as high as $3.09 and last traded at $3.09. 58,847 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,264,691 shares. The stock had previously closed at $2.99.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Jefferies Financial Group raised Nuvation Bio from a “hold” rating to a “buy” rating and raised their target price for the company from $1.40 to $10.00 in a report on Wednesday, March 27th. BTIG Research raised Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, March 26th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Nuvation Bio in a report on Monday, June 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Friday, May 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Nuvation Bio presently has an average rating of “Buy” and an average target price of $6.60.

Nuvation Bio Trading Down 3.8 %

The company has a fifty day moving average price of $3.03 and a two-hundred day moving average price of $2.39.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Research analysts expect that Nuvation Bio Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Activity at Nuvation Bio

In related news, Director Kim D. Blickenstaff purchased 172,189 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average price of $2.90 per share, with a total value of $499,348.10. Following the purchase, the director now directly owns 172,189 shares in the company, valued at $499,348.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Xiangmin Cui purchased 336,874 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average price of $2.98 per share, with a total value of $1,003,884.52. Following the purchase, the director now directly owns 2,175,236 shares in the company, valued at $6,482,203.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kim D. Blickenstaff acquired 172,189 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $2.90 per share, with a total value of $499,348.10. Following the transaction, the director now owns 172,189 shares in the company, valued at approximately $499,348.10. The disclosure for this purchase can be found here. Insiders have purchased a total of 596,778 shares of company stock valued at $1,765,500 in the last 90 days. 36.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors have recently bought and sold shares of the business. Beacon Pointe Advisors LLC bought a new position in Nuvation Bio in the 4th quarter valued at $33,000. Gladius Capital Management LP raised its position in Nuvation Bio by 92.6% in the 4th quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock valued at $47,000 after purchasing an additional 14,885 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Nuvation Bio in the 1st quarter valued at $79,000. Pinnacle Wealth Planning Services Inc. bought a new position in Nuvation Bio in the 1st quarter valued at $105,000. Finally, Acadian Asset Management LLC raised its position in Nuvation Bio by 258.9% in the 3rd quarter. Acadian Asset Management LLC now owns 113,717 shares of the company’s stock valued at $150,000 after purchasing an additional 82,031 shares during the last quarter. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

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.