B. Riley Wealth Advisors Inc. Makes New Investment in Nuvation Bio Inc. (NYSE:NUVB)

B. Riley Wealth Advisors Inc. acquired a new stake in Nuvation Bio Inc. (NYSE:NUVB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Nuvation Bio by 913.2% in 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 during the last quarter. Xponance Inc. bought a new position in Nuvation Bio during the 2nd quarter valued at about $33,000. Caxton Associates LP purchased a new stake in Nuvation Bio in the 2nd quarter worth about $43,000. Choreo LLC bought a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $47,000. Finally, Profund Advisors LLC bought a new position in Nuvation Bio in the 2nd quarter valued at $63,000. 61.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NUVB shares. Royal Bank of Canada reissued an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. HC Wainwright lowered their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $6.40.

Insider Activity

In related news, Director Robert Mashal acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at $220,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 36.09% of the company’s stock.

Nuvation Bio Stock Performance

NYSE NUVB opened at $2.00 on Friday. Nuvation Bio Inc. has a one year low of $0.95 and a one year high of $4.16. The company has a market capitalization of $494.34 million, a price-to-earnings ratio of -6.45 and a beta of 1.36. The company’s 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $3.01.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The company had revenue of $1.44 million for the quarter. Equities analysts expect that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal year.

Nuvation Bio 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.