Nuvation Bio Inc. (NYSE:NUVB) Short Interest Up 28.3% in November

Nuvation Bio Inc. (NYSE:NUVB) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 14,070,000 shares, a growth of 28.3% from the November 15th total of 10,970,000 shares. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is currently 7.1 days. Approximately 6.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NUVB. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, HC Wainwright dropped their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $6.60.

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock opened at $2.61 on Monday. The stock’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.84. Nuvation Bio has a 1-year low of $1.35 and a 1-year high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. On average, equities analysts expect that Nuvation Bio will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert Mashal acquired 100,000 shares of Nuvation Bio stock in a transaction on Tuesday, October 8th. The stock was bought at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $220,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 5.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its holdings in Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after acquiring an additional 10,000 shares during the last quarter. Xponance Inc. purchased a new position in Nuvation Bio in the second quarter worth approximately $33,000. Caxton Associates LP purchased a new position in Nuvation Bio in the second quarter worth approximately $43,000. Finally, Choreo LLC acquired a new stake in Nuvation Bio during the second quarter worth $47,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.