Nuvation Bio (NYSE:NUVB) Price Target Cut to $10.00 by Analysts at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its price target cut by HC Wainwright from $11.00 to $10.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Monday, March 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $8.00.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $1.88 on Monday. Nuvation Bio has a 1 year low of $1.67 and a 1 year high of $4.16. The firm’s 50 day moving average price is $2.39 and its 200-day moving average price is $2.58. The stock has a market cap of $631.06 million, a P/E ratio of -0.86 and a beta of 1.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in shares of Nuvation Bio in the 3rd quarter valued at approximately $172,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Nuvation Bio by 9.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 396,736 shares of the company’s stock valued at $909,000 after buying an additional 32,811 shares during the period. Intech Investment Management LLC bought a new stake in Nuvation Bio in the third quarter worth $132,000. Charles Schwab Investment Management Inc. boosted its stake in Nuvation Bio by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock worth $3,192,000 after buying an additional 60,590 shares during the period. Finally, Meridian Wealth Management LLC increased its position in Nuvation Bio by 47.0% during the third quarter. Meridian Wealth Management LLC now owns 82,840 shares of the company’s stock valued at $190,000 after acquiring an additional 26,495 shares during the last quarter. Hedge funds and other institutional investors 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.