Nuvation Bio Inc. (NYSE:NUVB) Given Consensus Rating of “Buy” by Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have been assigned an average rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.33.

NUVB has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. HC Wainwright dropped their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Monday, March 3rd. Finally, Jones Trading started coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They set a “buy” rating and a $10.00 target price on the stock.

Institutional Trading of Nuvation Bio

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

Nuvation Bio Stock Down 6.0 %

Shares of NYSE:NUVB opened at $1.97 on Wednesday. The stock has a market cap of $665.50 million, a price-to-earnings ratio of -0.91 and a beta of 1.47. Nuvation Bio has a 12-month low of $1.67 and a 12-month high of $4.16. The business’s 50 day moving average is $2.31 and its 200 day moving average is $2.54.

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.