Nuvation Bio Inc. (NYSE:NUVB) Director Purchases $1,003,884.52 in Stock

Nuvation Bio Inc. (NYSE:NUVB) Director Xiangmin Cui acquired 336,874 shares of the company’s stock in a transaction on Monday, June 24th. The shares were purchased at an average cost of $2.98 per share, for a total transaction of $1,003,884.52. Following the acquisition, the director now owns 2,175,236 shares of the company’s stock, valued at approximately $6,482,203.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Xiangmin Cui also recently made the following trade(s):

• On Thursday, June 20th, Xiangmin Cui purchased 87,715 shares of Nuvation Bio stock. The shares were purchased at an average price of $2.99 per share, for a total transaction of $262,267.85.

Nuvation Bio Stock Performance

NUVB stock opened at $3.04 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 fifty day moving average of $3.02 and a 200-day moving average of $2.38. The stock has a market capitalization of $751.40 million, a PE ratio of -9.81 and a beta of 1.42.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Equities analysts forecast that Nuvation Bio Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Nuvation Bio

Hedge funds have recently modified their holdings of the business. Beacon Pointe Advisors LLC purchased a new position in Nuvation Bio in the fourth quarter worth $33,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Nuvation Bio in the first quarter valued at about $79,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Nuvation Bio during the first quarter worth about $105,000. Gladius Capital Management LP grew its position in Nuvation Bio by 92.6% during the fourth quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock worth $47,000 after buying an additional 14,885 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Nuvation Bio by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after buying an additional 27,346 shares in the last quarter. 61.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.