Nuvation Bio (NYSE:NUVB) Price Target Cut to $7.00

Nuvation Bio (NYSE:NUVB) had its price target decreased by research analysts at HC Wainwright from $8.00 to $7.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 128.01% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Tuesday, August 6th. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Wednesday, September 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.40.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $3.07 on Monday. Nuvation Bio has a 52 week low of $0.95 and a 52 week high of $4.16. The firm has a market cap of $765.17 million, a PE ratio of -9.90 and a beta of 1.38. The firm’s fifty day moving average is $3.13 and its 200-day moving average is $3.00.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. Sell-side analysts forecast that Nuvation Bio will post -0.33 EPS for the current year.

Insider Activity

In other news, Director Xiangmin Cui bought 336,874 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of $2.98 per share, for a total transaction of $1,003,884.52. Following the transaction, the director now directly owns 2,175,236 shares of the company’s stock, valued at approximately $6,482,203.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 36.09% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. bought a new position in shares of Nuvation Bio during the second quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its holdings in Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after buying an additional 10,000 shares during the period. Beacon Pointe Advisors LLC purchased a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $33,000. Xponance Inc. bought a new position in shares of Nuvation Bio during the second quarter valued at approximately $33,000. Finally, Caxton Associates LP bought a new stake in Nuvation Bio in the second quarter valued at $43,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.