Nuvation Bio (NYSE:NUVB) Stock Price Down 2.6%

Nuvation Bio Inc. (NYSE:NUVB) traded down 2.6% during trading on Tuesday . The stock traded as low as $2.67 and last traded at $2.67. 118,577 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,394,376 shares. The stock had previously closed at $2.74.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Tuesday, August 6th. Finally, HC Wainwright cut their price target on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $6.40.

Nuvation Bio Trading Down 1.5 %

The stock has a market cap of $672.95 million, a P/E ratio of -8.84 and a beta of 1.38. The stock’s fifty day moving average price is $3.09 and its 200 day moving average price is $3.02.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, August 5th. The company reported ($0.15) 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. As a group, sell-side analysts forecast that Nuvation Bio Inc. will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently bought and sold shares of NUVB. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio in the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 10,000 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in Nuvation Bio in the 4th quarter worth about $33,000. Xponance Inc. bought a new position in Nuvation Bio in the 2nd quarter worth about $33,000. Finally, Caxton Associates LP bought a new position in Nuvation Bio in the 2nd quarter worth about $43,000. 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.