Nuvation Bio (NYSE:NUVB) Stock Rating Reaffirmed by Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating restated by Wedbush in a research report issued to clients and investors on Thursday, RTT News reports. They currently have a $5.00 target price on the stock. Wedbush’s target price indicates a potential upside of 78.89% from the company’s current price.

A number of other analysts have also recently commented on NUVB. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Nuvation Bio in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio currently has an average rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Price Performance

NYSE:NUVB remained flat at $2.80 on Thursday. The company’s stock had a trading volume of 1,182,171 shares, compared to its average volume of 1,413,998. The firm has a market capitalization of $696.63 million, a PE ratio of -9.02 and a beta of 1.40. Nuvation Bio has a 12-month low of $0.95 and a 12-month high of $4.16. The business has a 50 day moving average of $3.11 and a 200-day moving average of $2.83.

Insiders Place Their Bets

In other news, Director Xiangmin Cui purchased 336,874 shares of Nuvation Bio stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $2.98 per share, with a total value of $1,003,884.52. Following the transaction, the director now directly owns 2,175,236 shares in the company, valued at approximately $6,482,203.28. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Xiangmin Cui acquired 336,874 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were bought at an average price of $2.98 per share, for a total transaction of $1,003,884.52. Following the purchase, the director now directly owns 2,175,236 shares in the company, valued at approximately $6,482,203.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kim D. Blickenstaff acquired 172,189 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average price of $2.90 per share, for a total transaction of $499,348.10. Following the purchase, the director now owns 172,189 shares in the company, valued at $499,348.10. The disclosure for this purchase can be found here. Insiders bought a total of 596,778 shares of company stock valued at $1,765,500 in the last quarter. 36.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NUVB. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC increased its position in Nuvation Bio by 913.2% during 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 bought a new position in Nuvation Bio during the 4th quarter worth $33,000. Xponance Inc. acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth $33,000. Finally, Caxton Associates LP acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth $43,000. Institutional investors own 61.67% of the company’s stock.

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.