Nuvation Bio (NYSE:NUVB) Trading Down 5.9%
Shares of Nuvation Bio Inc. (NYSE:NUVB – Get Rating) fell 5.9% during mid-day trading on Friday . The stock traded as low as $3.96 and last traded at $3.96. 64,190 shares traded hands during trading, a decline of 92% from the average session volume of 833,108 shares. The stock had previously closed at $4.21.
NUVB has been the subject of a number of research reports. BMO Capital Markets decreased their price objective on shares of Nuvation Bio from $17.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, March 22nd. HC Wainwright initiated coverage on shares of Nuvation Bio in a research report on Wednesday, May 4th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Wedbush decreased their target price on Nuvation Bio from $23.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, May 10th.
The firm’s fifty day moving average price is $4.16 and its 200-day moving average price is $5.96. The company has a market cap of $917.86 million, a price-to-earnings ratio of -9.98 and a beta of 0.74.
Nuvation Bio (NYSE:NUVB – Get Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. During the same quarter last year, the business earned ($0.09) EPS. Equities analysts forecast that Nuvation Bio Inc. will post -0.54 earnings per share for the current year.
In other Nuvation Bio news, major shareholder Fund V. L.P. Omega sold 2,500,000 shares of Nuvation Bio stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $5.60, for a total transaction of $14,000,000.00. Following the sale, the insider now owns 20,457,340 shares of the company’s stock, valued at approximately $114,561,104. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.75% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC bought a new position in shares of Nuvation Bio in the first quarter valued at approximately $55,000. Profund Advisors LLC bought a new position in Nuvation Bio during the 4th quarter valued at $107,000. Quantbot Technologies LP increased its position in shares of Nuvation Bio by 147.7% during the 1st quarter. Quantbot Technologies LP now owns 13,383 shares of the company’s stock valued at $70,000 after purchasing an additional 7,981 shares during the period. Tortoise Investment Management LLC bought a new stake in shares of Nuvation Bio in the 1st quarter worth $72,000. Finally, Raymond James & Associates lifted its holdings in shares of Nuvation Bio by 28.9% in the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock valued at $84,000 after buying an additional 3,600 shares during the period. Institutional investors own 70.88% of the company’s stock.
About Nuvation Bio (NYSE:NUVB)
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-422, a small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6. It is also developing NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation; NUV-569, a differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair; NUV-1182, an adenosine receptor inhibitor; and drug-drug conjugate (DDC) platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as PARP inhibitor to address ER+ breast and ovarian cancer.
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