Nuvation Bio’s (NUVB) Outperform Rating Reiterated at Wedbush

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

Other research analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Nuvation Bio in a report on Monday. Royal Bank of Canada upped their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio presently has an average rating of “Buy” and a consensus price target of $7.40.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $3.00 on Monday. The firm’s 50 day simple moving average is $2.74 and its 200-day simple moving average is $2.82. Nuvation Bio has a one year low of $1.43 and a one year high of $4.16. The firm has a market cap of $1.01 billion, a PE ratio of -1.38 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. Equities research analysts predict that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Nuvation Bio by 1.4% in the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock valued at $66,957,000 after acquiring an additional 416,932 shares in the last quarter. State Street Corp lifted its holdings in shares of Nuvation Bio by 4.8% during the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Nuvation Bio by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock worth $9,227,000 after purchasing an additional 196,247 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Nuvation Bio by 4.5% during the 3rd 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 last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new position in Nuvation Bio during the 3rd quarter valued at about $2,790,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.