Wedbush Reiterates “Outperform” Rating for Nuvation Bio (NYSE:NUVB)

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report released on Monday,RTT News reports. They currently have a $5.00 price target on the stock. Wedbush’s target price indicates a potential upside of 77.30% from the company’s current price.

Other equities analysts also recently issued reports about the company. HC Wainwright cut their target price on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada increased their price objective on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Nuvation Bio presently has an average rating of “Buy” and an average target price of $6.60.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $2.82 on Monday. Nuvation Bio has a one year low of $1.43 and a one year high of $4.16. The stock has a market cap of $949.12 million, a PE ratio of -1.30 and a beta of 1.46. The stock has a 50-day moving average of $2.63 and a two-hundred day moving average of $2.83.

Nuvation Bio (NYSE:NUVB) last released 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 for the quarter. As a group, sell-side analysts predict that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other 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, with a total value of $220,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at $220,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Nuvation Bio by 913.2% during the second 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 in the last quarter. Xponance Inc. acquired a new stake in shares of Nuvation Bio in the second quarter valued at about $33,000. Caxton Associates LP purchased a new position in shares of Nuvation Bio in the second quarter worth about $43,000. Finally, Choreo LLC acquired a new position in Nuvation Bio during the second quarter worth about $47,000. Institutional investors and hedge funds 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.