By otakuyassine3@gmail.com 
Nuvation Bio Inc. (NYSE:NUVB – Get Free Report) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 14,070,000 shares, an increase of 28.3% from the November 15th total of 10,970,000 shares. Based on an average daily trading volume, of 1,980,000 shares, the short-interest ratio is currently 7.1 days. Approximately 6.2% of the shares of the company are sold short.
Insider Activity at Nuvation Bio
In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.07% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Nuvation Bio
Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Nuvation Bio by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after buying an additional 196,247 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new position in shares of Nuvation Bio during the 3rd quarter valued at approximately $2,790,000. XTX Topco Ltd purchased a new position in shares of Nuvation Bio during the 3rd quarter valued at approximately $302,000. Zacks Investment Management boosted its stake in shares of Nuvation Bio by 21.5% during the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock valued at $83,000 after buying an additional 6,394 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Nuvation Bio by 83.3% during the 3rd quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock valued at $1,429,000 after buying an additional 283,642 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.
Nuvation Bio Stock Performance
NYSE NUVB opened at $2.83 on Monday. Nuvation Bio has a fifty-two week low of $1.37 and a fifty-two week high of $4.16. The business has a 50 day moving average price of $2.57 and a two-hundred day moving average price of $2.84.
Nuvation Bio (NYSE:NUVB – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. As a group, sell-side analysts forecast that Nuvation Bio will post -0.4 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts recently commented on NUVB shares. Royal Bank of Canada boosted their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. HC Wainwright cut their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Nuvation Bio has a consensus rating of “Buy” and an average target price of $6.60.
Check Out Our Latest Report on Nuvation Bio
Nuvation Bio Company Profile
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.
Further Reading
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