Nuvation Bio Inc. (NYSE:NUVB – Get Free Report)’s stock price fell 3.1% during trading on Wednesday . The stock traded as low as $2.77 and last traded at $2.78. 869,766 shares changed hands during trading, a decline of 37% from the average session volume of 1,386,145 shares. The stock had previously closed at $2.87.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Nuvation Bio in a research report on Wednesday, July 17th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $6.60.
Nuvation Bio Stock Down 2.4 %
The company has a market capitalization of $697.87 million, a P/E ratio of -9.26 and a beta of 1.40. The firm’s 50-day moving average price is $3.12 and its 200 day moving average price is $2.83.
Insider Transactions at Nuvation Bio
In related news, Director Xiangmin Cui purchased 87,715 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired 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 approximately $5,271,223.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nuvation Bio news, Director Kim D. Blickenstaff bought 172,189 shares of Nuvation Bio stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $2.90 per share, with a total value of $499,348.10. Following the completion of the acquisition, the director now directly owns 172,189 shares in the company, valued at approximately $499,348.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Xiangmin Cui purchased 87,715 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired 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 directly owns 1,762,951 shares of the company’s stock, valued at approximately $5,271,223.49. 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 over the last ninety days. 36.09% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Nuvation Bio
Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in Nuvation Bio by 58.7% during the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after buying an additional 9,603 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Nuvation Bio by 913.2% during the second 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 during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Nuvation Bio in the second quarter worth $29,000. Xponance Inc. bought a new stake in shares of Nuvation Bio in the second quarter valued at $33,000. Finally, Caxton Associates LP purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at $43,000. 61.67% of the stock is owned by hedge funds and other institutional investors.
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.