Nuvation Bio (NYSE:NUVB) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report published on Monday,RTT News reports. The firm currently has a $5.00 price target on the stock.

A number of other research firms have also weighed in on NUVB. HC Wainwright boosted their target price on shares of Nuvation Bio from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reissued 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 data from MarketBeat, Nuvation Bio currently has an average rating of “Buy” and an average target price of $8.20.

Nuvation Bio Stock Performance

Shares of NUVB opened at $1.83 on Monday. Nuvation Bio has a 52 week low of $1.67 and a 52 week high of $4.16. The stock has a market capitalization of $614.23 million, a price-to-earnings ratio of -0.84 and a beta of 1.45. The stock has a fifty day moving average of $2.48 and a 200-day moving average of $2.61.

Institutional Investors Weigh In On Nuvation Bio

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Nuvation Bio by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company’s stock valued at $276,000 after buying an additional 5,693 shares during the period. Two Sigma Investments LP boosted its holdings in Nuvation Bio by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company’s stock worth $3,062,000 after acquiring an additional 5,925 shares in the last quarter. Zacks Investment Management boosted its holdings in Nuvation Bio by 21.5% in the third quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after acquiring an additional 6,394 shares in the last quarter. LPL Financial LLC boosted its holdings in Nuvation Bio by 27.0% in the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock worth $83,000 after acquiring an additional 6,673 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Nuvation Bio by 2.3% in the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company’s stock worth $879,000 after acquiring an additional 7,344 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.