Nuvation Bio (NYSE:NUVB) Upgraded at Jones Trading

Jones Trading upgraded shares of Nuvation Bio (NYSE:NUVB) to a strong-buy rating in a research report report published on Tuesday morning, Marketbeat reports.

Other research analysts have also issued research reports about the company. HC Wainwright decreased their target price on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Monday, March 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $8.33.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $2.22 on Tuesday. Nuvation Bio has a 52-week low of $1.67 and a 52-week high of $4.16. The firm has a market capitalization of $745.50 million, a P/E ratio of -1.02 and a beta of 1.47. The stock has a 50 day moving average price of $2.37 and a 200-day moving average price of $2.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NUVB. Forum Financial Management LP purchased a new stake in Nuvation Bio during the 4th quarter valued at $29,000. Cerity Partners LLC purchased a new stake in Nuvation Bio during the 4th quarter valued at $31,000. Russell Investments Group Ltd. boosted its stake in Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock valued at $42,000 after purchasing an additional 15,791 shares during the last quarter. Abacus Planning Group Inc. purchased a new stake in Nuvation Bio during the 4th quarter valued at $44,000. Finally, Cibc World Markets Corp purchased a new stake in Nuvation Bio during the 4th quarter valued at $45,000. 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.