Nuvation Bio (NYSE:NUVB) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nuvation Bio (NYSE:NUVB) in a research report report published on Wednesday morning, Benzinga reports. HC Wainwright currently has a $8.00 price target on the stock.

A number of other brokerages have also weighed in on NUVB. Wedbush reaffirmed an outperform rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Friday, May 24th. BTIG Research raised shares of Nuvation Bio from a neutral rating to a buy rating and set a $5.00 price target on the stock in a research note on Tuesday, March 26th. Jefferies Financial Group raised shares of Nuvation Bio from a hold rating to a buy rating and boosted their price objective for the stock from $1.40 to $10.00 in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada boosted their price objective on shares of Nuvation Bio from $4.00 to $5.00 and gave the stock an outperform rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $6.60.

Nuvation Bio Stock Down 5.7 %

Shares of NYSE NUVB opened at $3.00 on Wednesday. The firm’s 50-day moving average is $3.08 and its 200-day moving average is $2.57. Nuvation Bio has a 1 year low of $0.95 and a 1 year high of $4.16.

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

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, Director Xiangmin Cui acquired 87,715 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $2.99 per share, with a total value of $262,267.85. Following the completion of the transaction, the director now directly owns 1,762,951 shares in the company, valued at approximately $5,271,223.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Kim D. Blickenstaff bought 172,189 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $2.90 per share, for a total transaction of $499,348.10. Following the completion of the acquisition, the director now owns 172,189 shares in the company, valued at $499,348.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Xiangmin Cui bought 87,715 shares of the 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 approximately $5,271,223.49. The disclosure for this purchase can be found here. Insiders have acquired a total of 596,778 shares of company stock valued at $1,765,500 over the last 90 days. 36.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

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

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.