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

Shares of Nuvation Bio Inc. (NYSE:NUVB) have been assigned an average recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.33.

A number of brokerages recently issued reports on NUVB. HC Wainwright decreased their target price 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 restated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Monday, March 3rd. Jones Trading initiated 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th.

Hedge Funds Weigh In On Nuvation Bio

A number of large investors have recently bought and sold shares of the stock. FMR LLC raised 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 acquiring an additional 16,046,701 shares during the period. Vanguard Group Inc. raised its stake in shares of 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. Geode Capital Management LLC raised its stake in shares of Nuvation Bio by 22.9% in the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock valued at $13,174,000 after acquiring an additional 922,503 shares during the period. State Street Corp raised its stake in shares of Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after acquiring an additional 191,031 shares during the period. Finally, MPM Bioimpact LLC purchased a new position in shares of Nuvation Bio in the 4th quarter valued at $11,077,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NYSE NUVB opened at $2.14 on Wednesday. Nuvation Bio has a 1 year low of $1.67 and a 1 year high of $4.16. The firm’s 50 day moving average price is $2.35 and its 200 day moving average price is $2.55. The firm has a market cap of $723.08 million, a P/E ratio of -0.98 and a beta of 1.47.

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.