Nuvation Bio (NYSE:NUVB) Shares Up 10% – Should You Buy?

Nuvation Bio Inc. (NYSE:NUVB) traded up 10% during trading on Friday . The stock traded as high as $2.86 and last traded at $2.85. 1,079,231 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 1,589,898 shares. The stock had previously closed at $2.59.

Analyst Ratings Changes

A number of research analysts recently issued reports on NUVB shares. Royal Bank of Canada boosted their price objective on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. HC Wainwright dropped their price target on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, December 23rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Stock Performance

The company has a market capitalization of $972.68 million, a PE ratio of -1.33 and a beta of 1.46. The stock has a fifty day moving average of $2.70 and a 200 day moving average of $2.82.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $0.73 million for the quarter. As a group, equities analysts predict that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average cost of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.07% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Nuvation Bio by 1.4% in the 3rd quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after acquiring an additional 416,932 shares during the last quarter. State Street Corp raised its position in Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after purchasing an additional 191,031 shares during the period. Geode Capital Management LLC lifted its stake in Nuvation Bio by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock worth $9,227,000 after purchasing an additional 196,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Nuvation Bio by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock valued at $3,192,000 after buying an additional 60,590 shares during the period. Finally, Frazier Life Sciences Management L.P. purchased a new position in shares of Nuvation Bio during the third quarter valued at approximately $2,790,000. 61.67% of the stock is owned by 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.