Nuvation Bio Inc. [NUVB] Is Currently 0.87 below its 200 Period Moving Avg: What Does This Mean?


Nuvation Bio Inc. [NYSE: NUVB] jumped around 0.02 points on Wednesday, while shares priced at $2.31 at the close of the session, up 0.87%. The company report on August 1, 2022 that Nuvation Bio Announces Discontinuation of NUV-422 Clinical Development Program.

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Company prioritizes NUV-868, its BD2 selective BET inhibitor currently in a Phase 1 dose escalation study in advanced solid tumors, and its novel small molecule Drug-Drug Conjugate (DDC) platform.

Company restructuring and cost savings associated with NUV-422 program discontinuation to extend cash runway through 2028.

Nuvation Bio Inc. stock is now -72.82% down from its year-to-date (YTD) trading value. NUVB Stock saw the intraday high of $2.465 and lowest of $2.25 per share. The company’s 52-week high price is 10.45, which means current price is +2.67% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 987.86K shares, NUVB reached a trading volume of 4708212 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $13.67 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 1.60. 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.

BTIG Research have made an estimate for Nuvation Bio Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 02, 2022. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $8 to $2.50. The new note on the price target was released on August 02, 2022, representing the official price target for Nuvation Bio Inc. stock. Previously, the target price had yet another raise to $14, while H.C. Wainwright analysts kept a Buy rating on NUVB stock.

The Average True Range (ATR) for Nuvation Bio Inc. is set at 0.26 The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 2.98.

How has NUVB stock performed recently?

Nuvation Bio Inc. [NUVB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.20. With this latest performance, NUVB shares dropped by -37.74% in over the last four-week period, additionally sinking by -61.94% over the last 6 months – not to mention a drop of -74.64% in the past year of trading.

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 26.10, with the RSI for the last a single of trading hit 19.56, and the three-weeks RSI is set at 30.47 for Nuvation Bio Inc. [NUVB]. The present Moving Average for the last 50 days of trading for this stock 3.47, while it was recorded at 2.57 for the last single week of trading, and 5.88 for the last 200 days.

Nuvation Bio Inc. [NUVB]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -20.07, with Return on Assets sitting at -18.86.

Nuvation Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 34.90 and a Current Ratio set at 34.90.

Insider trade positions for Nuvation Bio Inc. [NUVB]

There are presently around $367 million, or 77.10% of NUVB stock, in the hands of institutional investors. The top three institutional holders of NUVB stocks are: FMR LLC with ownership of 31,598,727, which is approximately -0.213% of the company’s market cap and around 27.00% of the total institutional ownership; OMEGA FUND MANAGEMENT, LLC, holding 22,957,340 shares of the stock with an approximate value of $53.03 million in NUVB stocks shares; and ECOR1 CAPITAL, LLC, currently with $32.1 million in NUVB stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Nuvation Bio Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 57 institutional holders increased their position in Nuvation Bio Inc. [NYSE:NUVB] by around 10,762,528 shares. Additionally, 45 investors decreased positions by around 6,968,710 shares, while 24 investors held positions by with 141,174,621 shares. The mentioned changes placed institutional holdings at 158,905,859 shares, according to the latest SEC report filing. NUVB stock had 22 new institutional investments in for a total of 2,310,262 shares, while 7 institutional investors sold positions of 1,723,055 shares during the same period.