Nuvation Bio (NYSE:NUVB) Shares Up 3.3%

Shares of Nuvation Bio Inc. (NYSE:NUVB) rose 3.3% on Thursday . The stock traded as high as $3.09 and last traded at $3.09. Approximately 58,847 shares changed hands during trading, a decline of 95% from the average daily volume of 1,264,691 shares. The stock had previously closed at $2.99.

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 Friday, May 24th. BTIG Research upgraded Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Tuesday, March 26th. Jefferies Financial Group upgraded Nuvation Bio from a “hold” rating to a “buy” rating and increased their price objective for the stock from $1.40 to $10.00 in a report on Wednesday, March 27th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Nuvation Bio in a research note on Monday, June 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio presently has an average rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Price Performance

The company has a market capitalization of $763.76 million, a PE ratio of -10.19 and a beta of 1.42. The company has a 50 day moving average of $3.01 and a two-hundred day moving average of $2.37.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. On average, equities analysts anticipate that Nuvation Bio Inc. will post -0.31 EPS for the current year.

Insider Activity at Nuvation Bio

In related news, Director Xiangmin Cui purchased 87,715 shares of the stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of $2.99 per share, with a total value of $262,267.85. Following the transaction, the director now directly owns 1,762,951 shares in the company, valued at $5,271,223.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Xiangmin Cui purchased 87,715 shares of Nuvation Bio stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average price of $2.99 per share, with a total value of $262,267.85. Following the completion of the transaction, the director now directly owns 1,762,951 shares of the company’s stock, valued at $5,271,223.49. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kim D. Blickenstaff bought 172,189 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $2.90 per share, for a total transaction of $499,348.10. Following the completion of the purchase, the director now owns 172,189 shares in the company, valued at approximately $499,348.10. The disclosure for this purchase can be found here. Insiders purchased a total of 596,778 shares of company stock valued at $1,765,500 in the last 90 days. Corporate insiders own 36.09% of the company’s stock.

Institutional Trading of Nuvation Bio

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Nuvation Bio by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after purchasing an additional 219,533 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Nuvation Bio by 551.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after buying an additional 1,146,794 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Nuvation Bio by 81.9% in the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock worth $4,273,000 after acquiring an additional 528,660 shares during the period. Octagon Capital Advisors LP purchased a new stake in Nuvation Bio during the fourth quarter valued at $1,510,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Nuvation Bio by 254.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after acquiring an additional 537,314 shares during the period. Hedge funds and other 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.