Nuvation Bio (NYSE:NUVB) Stock Price Up 5.2%

Shares of Nuvation Bio Inc. (NYSE:NUVB) shot up 5.2% during mid-day trading on Tuesday . The company traded as high as $2.85 and last traded at $2.84. 1,166,225 shares changed hands during trading, a decline of 16% from the average session volume of 1,387,110 shares. The stock had previously closed at $2.70.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NUVB. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Nuvation Bio in a report on Wednesday, July 17th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, August 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Trading Up 6.3 %

The stock has a 50 day simple moving average of $3.12 and a 200-day simple moving average of $2.82. The firm has a market cap of $715.32 million, a PE ratio of -9.23 and a beta of 1.40.

Insider Transactions at Nuvation Bio

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Acuitas Investments LLC lifted its holdings in shares of Nuvation Bio by 45.5% in the 4th quarter. Acuitas Investments LLC now owns 460,471 shares of the company’s stock valued at $661,000 after acquiring an additional 143,972 shares during the last quarter. Marquette Asset Management LLC raised its position in Nuvation Bio by 70.9% during the fourth quarter. Marquette Asset Management LLC now owns 111,759 shares of the company’s stock valued at $169,000 after purchasing an additional 46,369 shares during the period. Gladius Capital Management LP lifted its stake in shares of Nuvation Bio by 92.6% in the 4th quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock valued at $47,000 after purchasing an additional 14,885 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in shares of Nuvation Bio in the 4th quarter worth approximately $33,000. Finally, Octagon Capital Advisors LP bought a new position in shares of Nuvation Bio during the 4th quarter valued at approximately $1,510,000. 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.