Jones Trading Begins Coverage on Nuvation Bio (NYSE:NUVB)

Equities research analysts at Jones Trading started coverage on shares of Nuvation Bio (NYSE:NUVB) in a research note issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock. Jones Trading’s target price would indicate a potential upside of 351.47% from the company’s previous close.

NUVB has been the subject of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, March 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Finally, HC Wainwright cut their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.33.

Nuvation Bio Trading Down 1.1 %

NUVB stock opened at $2.22 on Wednesday. Nuvation Bio has a 1 year low of $1.67 and a 1 year high of $4.16. The company has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $2.57. The firm has a market cap of $745.50 million, a PE ratio of -1.02 and a beta of 1.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NUVB. Forum Financial Management LP acquired a new position in Nuvation Bio during the 4th quarter worth $29,000. Cerity Partners LLC bought a new position in shares of Nuvation Bio during the 4th quarter worth about $31,000. Russell Investments Group Ltd. increased its holdings in shares of Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after purchasing an additional 15,791 shares during the period. Abacus Planning Group Inc. bought a new position in shares of Nuvation Bio during the 4th quarter worth about $44,000. Finally, Cibc World Markets Corp bought a new position in shares of Nuvation Bio during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Company Profile

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.