Nuvation Bio Inc (NYSE: NUVB) stock jumped 5.34% on Friday to $1.38 against a previous-day closing price of $1.31. With 0.82 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.22 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.4000 whereas the lowest price it dropped to was $1.3000. The 52-week range on NUVB shows that it touched its highest point at $2.55 and its lowest point at $0.95 during that stretch. It currently has a 1-year price target of $3.73. Beta for the stock currently stands at 1.08.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NUVB was up-trending over the past week, with a rise of 6.98%, but this was up by 14.05% over a month. Three-month performance dropped to -16.87% while six-month performance fell -15.34%. The stock lost -28.50% in the past year, while it has lost -28.12% so far this year. A look at the trailing 12-month EPS for NUVB yields -0.38 with Next year EPS estimates of -0.48. For the next quarter, that number is -0.10. This implies an EPS growth rate of 18.75% for this year and -23.08% for next year.
Float and Shares Shorts:
At present, 217.63 million NUVB shares are outstanding with a float of 143.71 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.4 million, which was 1.10% higher than short shares on Sep 28, 2023. In addition to Dr. David T. Hung M.D. as the firm’s Founder, President, CEO & Director, Ms. Jennifer A. Fox serves as its CFO & Secretary.
Through their ownership of 63.20% of NUVB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.35% of NUVB, in contrast to 33.67% held by mutual funds. Shares owned by individuals account for 21.67%. As the largest shareholder in NUVB with 14.92% of the stake, Fidelity Management & Research Co holds 32,665,488 shares worth 32,665,488. A second-largest stockholder of NUVB, EcoR1 Capital, LLC, holds 19,209,643 shares, controlling over 8.77% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NUVB, holding 10,602,653 shares or 4.84% stake. With a 3.97% stake in NUVB, the Fidelity Contrafund is the largest stakeholder. A total of 8,681,047 shares are owned by the mutual fund manager. The Fidelity Growth Company Fund, which owns about 2.46% of NUVB stock, is the second-largest Mutual Fund holder. It holds 5,384,869 shares valued at 5.19 million. Vanguard Total Stock Market ETF holds 1.91% of the stake in NUVB, owning 4,178,976 shares worth 4.03 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NUVB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NUVB analysts setting a high price target of $5.00 and a low target of $1.40, the average target price over the next 12 months is $3.73. Based on these targets, NUVB could surge 262.32% to reach the target high and rise by 1.45% to reach the target low. Reaching the average price target will result in a growth of 170.29% from current levels.
Summary of Insider Activity:
Insiders traded NUVB stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 170,100 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 5,680,200 while 0 shares were sold.