Analysts Set Nuvation Bio Inc. (NYSE:NUVB) Target Price at $8.33

Nuvation Bio Inc. (NYSE:NUVB) has been assigned an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.33.

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Monday, March 3rd. Jones Trading began coverage on Nuvation Bio in a research note on Wednesday. They set a “buy” rating and a $10.00 price target for the company. Finally, HC Wainwright cut their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NUVB. FMR LLC grew its position in shares of Nuvation Bio by 54.9% during the 4th quarter. FMR LLC now owns 45,285,572 shares of the company’s stock worth $120,460,000 after buying an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. lifted its stake in Nuvation Bio by 45.4% in the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock worth $41,849,000 after acquiring an additional 4,913,820 shares during the period. MPM Bioimpact LLC bought a new position in Nuvation Bio during the 4th quarter worth about $11,077,000. Frazier Life Sciences Management L.P. bought a new position in Nuvation Bio during the 3rd quarter worth about $2,790,000. Finally, Millennium Management LLC increased its position in Nuvation Bio by 82.7% during the 4th quarter. Millennium Management LLC now owns 2,475,872 shares of the company’s stock valued at $6,586,000 after purchasing an additional 1,120,874 shares during the period. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Down 3.4 %

Shares of NUVB opened at $2.14 on Wednesday. The business has a fifty day moving average of $2.35 and a 200 day moving average of $2.56. The company has a market cap of $718.57 million, a PE ratio of -0.98 and a beta of 1.47. Nuvation Bio has a 52-week low of $1.67 and a 52-week high of $4.16.

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.