Nuvation Bio Inc. (NYSE:NUVB) Short Interest Update

Nuvation Bio Inc. (NYSE:NUVB) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 20,940,000 shares, an increase of 35.9% from the December 15th total of 15,410,000 shares. Currently, 9.1% of the company’s stock are short sold. Based on an average daily volume of 2,320,000 shares, the days-to-cover ratio is presently 9.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NUVB. B. Riley Wealth Advisors Inc. purchased a new position in Nuvation Bio in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC raised its position in Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after buying an additional 10,000 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Nuvation Bio in the 2nd quarter worth $33,000. Caxton Associates LP acquired a new position in shares of Nuvation Bio during the second quarter worth about $43,000. Finally, Choreo LLC acquired a new position in shares of Nuvation Bio during the second quarter worth about $47,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NUVB shares. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Nuvation Bio in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Finally, Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, January 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio presently has an average rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Trading Down 2.5 %

NUVB stock traded down $0.07 on Thursday, hitting $2.54. The company’s stock had a trading volume of 2,815,798 shares, compared to its average volume of 3,305,980. The stock has a market cap of $853.20 million, a price-to-earnings ratio of -1.17 and a beta of 1.47. The firm has a 50 day moving average of $2.78 and a two-hundred day moving average of $2.82. Nuvation Bio has a 1 year low of $1.43 and a 1 year high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $0.73 million for the quarter. As a group, equities analysts forecast that Nuvation Bio will post -0.36 EPS for the current fiscal year.

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.