Nuvation Bio Inc. (NYSE:NUVB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.33.

Several analysts have commented on NUVB shares. Wedbush reiterated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Monday, March 3rd. 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 research note on Tuesday, January 7th. Jones Trading assumed coverage on Nuvation Bio in a research note on Wednesday. They issued a “buy” rating and a $10.00 target price on the stock. Finally, 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.

Nuvation Bio Price Performance

Shares of NYSE NUVB traded up $0.06 during mid-day trading on Wednesday, hitting $2.35. The company’s stock had a trading volume of 676,330 shares, compared to its average volume of 2,530,012. Nuvation Bio has a one year low of $1.67 and a one year high of $4.16. The company’s fifty day simple moving average is $2.39 and its 200-day simple moving average is $2.57. The stock has a market cap of $789.25 million, a price-to-earnings ratio of -1.08 and a beta of 1.47.

Hedge Funds Weigh In On Nuvation Bio

A number of large investors have recently added to or reduced their stakes in the company. Forum Financial Management LP acquired a new position in shares of Nuvation Bio during the fourth quarter worth about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Nuvation Bio by 54.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,806 shares of the company’s stock valued at $925,000 after purchasing an additional 122,187 shares during the last quarter. Wexford Capital LP lifted its position in shares of Nuvation Bio by 45.2% in the fourth quarter. Wexford Capital LP now owns 946,219 shares of the company’s stock worth $2,517,000 after purchasing an additional 294,452 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Nuvation Bio by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company’s stock worth $3,062,000 after purchasing an additional 5,925 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Nuvation Bio by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 51,060 shares of the company’s stock valued at $136,000 after purchasing an additional 16,801 shares in the last quarter. Institutional investors 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.