Nuvation Bio (NYSE:NUVB) PT Lowered to $7.00 at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its target price cut by investment analysts at HC Wainwright from $8.00 to $7.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 129.51% from the company’s previous close.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.40.

Nuvation Bio Trading Down 0.3 %

Shares of NUVB stock opened at $3.05 on Monday. The company has a market capitalization of $753.87 million, a price-to-earnings ratio of -9.84 and a beta of 1.38. The firm has a 50-day moving average price of $3.13 and a 200 day moving average price of $2.99. Nuvation Bio has a twelve month low of $0.95 and a twelve month high of $4.16.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. As a group, research analysts predict that Nuvation Bio will post -0.33 earnings per share for the current year.

Insider Activity

In other news, Director Xiangmin Cui bought 87,715 shares of Nuvation Bio stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $2.99 per share, for a total transaction of $262,267.85. Following the completion of the acquisition, the director now owns 1,762,951 shares of the company’s stock, valued at $5,271,223.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 36.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NUVB. B. Riley Wealth Advisors Inc. purchased a new position in shares of Nuvation Bio in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC increased its holdings in Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after purchasing an additional 10,000 shares in the last quarter. Xponance Inc. purchased a new position in Nuvation Bio in the second quarter valued at about $33,000. Caxton Associates LP acquired a new position in shares of Nuvation Bio during the second quarter worth about $43,000. Finally, Choreo LLC purchased a new stake in shares of Nuvation Bio in the second quarter worth about $47,000. Hedge funds and other institutional investors 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.