HC Wainwright Cuts Nuvation Bio (NYSE:NUVB) Price Target to $10.00

Nuvation Bio (NYSE:NUVB) had its price objective trimmed by HC Wainwright from $11.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Nuvation Bio’s Q1 2025 earnings at ($0.17) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at ($0.71) EPS.

A number of other research analysts have also commented on NUVB. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Monday, March 3rd. 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.33.

Nuvation Bio Stock Performance

Shares of NUVB opened at $2.25 on Monday. Nuvation Bio has a 52 week low of $1.67 and a 52 week high of $4.16. The firm has a market cap of $755.59 million, a P/E ratio of -1.03 and a beta of 1.47. The firm’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 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 purchasing an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nuvation Bio by 45.4% during the 4th 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. Geode Capital Management LLC lifted its holdings in shares of Nuvation Bio by 22.9% during the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock worth $13,174,000 after acquiring an additional 922,503 shares during the period. 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 worth $9,541,000 after acquiring an additional 191,031 shares during the period. Finally, MPM Bioimpact LLC bought a new stake in shares of Nuvation Bio during the 4th quarter worth approximately $11,077,000. Institutional investors and hedge funds 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.