Nuvation Bio (NYSE:NUVB) Receives Outperform Rating from Wedbush

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

Other equities research analysts have also issued research reports about the company. Jones Trading started coverage on Nuvation Bio in a research note on Wednesday, March 12th. They set a “buy” rating and a $10.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, HC Wainwright cut their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 10th.

Nuvation Bio Trading Down 0.3 %

Nuvation Bio stock opened at $1.88 on Thursday. The firm’s 50 day simple moving average is $2.20 and its 200 day simple moving average is $2.49. Nuvation Bio has a 1-year low of $1.71 and a 1-year high of $4.16. The firm has a market capitalization of $635.02 million, a PE ratio of -0.86 and a beta of 1.47.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Nuvation Bio by 54.9% in the 4th quarter. FMR LLC now owns 45,285,572 shares of the company’s stock valued at $120,460,000 after purchasing 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 purchasing an additional 4,913,820 shares during the last quarter. Geode Capital Management LLC lifted its stake in Nuvation Bio by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock worth $13,174,000 after purchasing an additional 922,503 shares during the last quarter. State Street Corp boosted its position in Nuvation Bio by 4.8% during the third quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after buying an additional 191,031 shares during the period. Finally, MPM Bioimpact LLC bought a new position in shares of Nuvation Bio during the fourth quarter valued at about $11,077,000. 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.