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. Based on an average daily volume of 2,320,000 shares, the days-to-cover ratio is currently 9.0 days. Currently, 9.1% of the shares of the stock are short sold.

Nuvation Bio Price Performance

Nuvation Bio stock traded down $0.07 during mid-day trading on Thursday, hitting $2.54. 2,815,798 shares of the company were exchanged, compared to its average volume of 3,305,980. Nuvation Bio has a 12-month low of $1.43 and a 12-month high of $4.16. The company has a market capitalization of $853.20 million, a P/E ratio of -1.17 and a beta of 1.47. The business’s 50 day simple moving average is $2.78 and its two-hundred day simple moving average is $2.82.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data 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 firm had revenue of $0.73 million for the quarter. Equities research analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of Nuvation Bio by 4.8% in the third quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares during the period. Wellington Management Group LLP grew its holdings in Nuvation Bio by 83.3% in 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 period. Geode Capital Management LLC increased 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 acquiring an additional 196,247 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nuvation Bio by 415.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock worth $2,975,000 after acquiring an additional 820,669 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Nuvation Bio during the 3rd quarter worth about $634,000. 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.