Nuvation Bio’s (NUVB) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research report report published on Monday,RTT News reports. Wedbush currently has a $5.00 target price on the stock.

Several other research firms also recently commented on NUVB. Royal Bank of Canada boosted their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. HC Wainwright lowered their target price on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Stock Down 0.4 %

NYSE:NUVB opened at $2.67 on Monday. Nuvation Bio has a 52 week low of $1.43 and a 52 week high of $4.16. The stock’s fifty day moving average is $2.62 and its two-hundred day moving average is $2.84. The stock has a market capitalization of $898.63 million, a price-to-earnings ratio of -1.23 and a beta of 1.46.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. On average, sell-side analysts expect that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Insider Activity

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now owns 100,000 shares in the company, valued at $220,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Nuvation Bio by 1.4% during the 3rd quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after buying an additional 416,932 shares during the last quarter. State Street Corp raised its stake in Nuvation Bio by 4.8% during the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after acquiring an additional 191,031 shares in the last quarter. Geode Capital Management LLC lifted its position in Nuvation Bio by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after acquiring an additional 196,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Nuvation Bio by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock valued at $3,192,000 after acquiring an additional 60,590 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. purchased a new position in shares of Nuvation Bio during the third quarter worth about $2,790,000. 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.