Wedbush slashes price target on Nuvation Bio Inc. [NUVB] – find out why.

Nuvation Bio Inc. [NYSE: NUVB] loss -11.99% or -1.43 points to close at $10.50 with a heavy trading volume of 1436747 shares. The company report on March 12, 2021 that Nuvation Bio Reports Full Year 2020 Financial Results and Provides Business Update.

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Closed business combination with Panacea, yielding new public listing and strong cash position of approximately $830 million.

Patient enrollment ongoing in Phase 1/2 study of NUV-422 in high-grade gliomas.

It opened the trading session at $11.81, the shares rose to $11.81 and dropped to $10.345, the range by which the price of stock traded the whole day. The daily chart for NUVB points out that the company has recorded -4.55% loss over the past six months. However, it is still -22.66% lower than its most recent low trading price.

If we look at the average trading volume of 790.68K shares, NUVB reached to a volume of 1436747 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Nuvation Bio Inc. [NUVB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NUVB shares is $18.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NUVB stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Nuvation Bio Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 08, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on March 08, 2021, representing the official price target for Nuvation Bio Inc. stock.

The Average True Range (ATR) for Nuvation Bio Inc. is set at 0.95

Trading performance analysis for NUVB stock

Nuvation Bio Inc. [NUVB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.05. With this latest performance, NUVB shares gained by 0.19% in over the last four-week period, additionally sinking by -4.55% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NUVB stock in for the last two-week period is set at 37.54, with the RSI for the last a single of trading hit 29.30, and the three-weeks RSI is set at 42.09 for Nuvation Bio Inc. [NUVB]. The present Moving Average for the last 50 days of trading for this stock 11.26, while it was recorded at 12.96 for the last single week of trading.

Nuvation Bio Inc. [NUVB]: A deeper dive into fundamental analysis

Nuvation Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 33.70 and a Current Ratio set at 33.70.

An analysis of insider ownership at Nuvation Bio Inc. [NUVB]

There are presently around $124 million, or 5.60% of NUVB stock, in the hands of institutional investors. The top three institutional holders of NUVB stocks are: CITADEL ADVISORS LLC with ownership of 2,500,624, which is approximately New of the company’s market cap and around 27.10% of the total institutional ownership; FARALLON CAPITAL MANAGEMENT LLC, holding 2,500,000 shares of the stock with an approximate value of $26.25 million in NUVB stocks shares; and CASTLE CREEK ARBITRAGE, LLC, currently with $12.89 million in NUVB stock with ownership of nearly 212.113% of the company’s market capitalization.

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Positions in Nuvation Bio Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 27 institutional holders increased their position in Nuvation Bio Inc. [NYSE:NUVB] by around 8,988,589 shares. Additionally, 10 investors decreased positions by around 1,002,939 shares, while 3 investors held positions by with 1,781,459 shares. The mentioned changes placed institutional holdings at 11,772,987 shares, according to the latest SEC report filing. NUVB stock had 24 new institutional investments in for a total of 7,940,234 shares, while 7 institutional investors sold positions of 658,892 shares during the same period.

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