Nuvation Bio’s (NUVB) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note released on Monday morning,RTT News reports. Wedbush currently has a $5.00 price objective on the stock.

NUVB has been the topic of several other reports. Royal Bank of Canada upped their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Nuvation Bio in a report on Monday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Price Performance

NYSE NUVB opened at $3.00 on Monday. The stock’s fifty day moving average price is $2.74 and its 200 day moving average price is $2.82. Nuvation Bio has a 1 year low of $1.43 and a 1 year high of $4.16. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -1.38 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $0.73 million during the quarter. Research analysts expect that Nuvation Bio will post -0.4 earnings per share for the current year.

Institutional Trading of Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new position in Nuvation Bio in the second quarter valued at $29,000. EverSource Wealth Advisors LLC increased its stake in shares of 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. acquired a new position in Nuvation Bio in the 2nd quarter worth about $33,000. Caxton Associates LP purchased a new position in Nuvation Bio during the second quarter worth approximately $43,000. Finally, Choreo LLC acquired a new stake in Nuvation Bio in the second quarter valued at approximately $47,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.