Nuvation Bio (NYSE:NUVB) Rating Reiterated by Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report issued on Tuesday, Benzinga reports. They presently have a $5.00 target price on the stock. Wedbush’s price target points to a potential upside of 115.05% from the stock’s current price. Wedbush also issued estimates for Nuvation Bio’s FY2028 earnings at ($0.01) EPS.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. HC Wainwright reduced their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $6.40.

Nuvation Bio Trading Down 3.5 %

Shares of Nuvation Bio stock opened at $2.33 on Tuesday. The company has a market capitalization of $579.48 million, a P/E ratio of -1.11 and a beta of 1.36. The stock has a fifty day simple moving average of $2.70 and a 200 day simple moving average of $2.95. Nuvation Bio has a 12-month low of $0.95 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. On average, analysts predict that Nuvation Bio will post -0.4 EPS for the current year.

Insider Activity at Nuvation Bio

In other news, Director Robert Mashal bought 100,000 shares of the firm’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 completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $220,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio in the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after acquiring an additional 10,000 shares during the period. Xponance Inc. purchased a new position in shares of Nuvation Bio in the second quarter valued at $33,000. Caxton Associates LP bought a new stake in shares of Nuvation Bio during the 2nd quarter valued at $43,000. Finally, Choreo LLC purchased a new stake in Nuvation Bio during the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.