Wedbush Reaffirms “Outperform” Rating for Nuvation Bio (NYSE:NUVB)

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research report report published on Thursday morning,RTT News reports. Wedbush currently has a $5.00 target price on the stock.

Several other equities analysts also recently commented on the stock. HC Wainwright lowered their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Jones Trading initiated coverage on Nuvation Bio in a report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th.

Nuvation Bio Stock Down 0.3 %

NYSE:NUVB opened at $1.88 on Thursday. The firm has a market capitalization of $635.02 million, a P/E ratio of -0.86 and a beta of 1.47. The company has a fifty day moving average of $2.20 and a 200 day moving average of $2.49. Nuvation Bio has a 52 week low of $1.71 and a 52 week high of $4.16.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently modified their holdings of NUVB. FMR LLC lifted its holdings in Nuvation Bio by 54.9% in the fourth quarter. FMR LLC now owns 45,285,572 shares of the company’s stock worth $120,460,000 after buying an additional 16,046,701 shares during the period. Vanguard Group Inc. raised its position 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 worth $41,849,000 after acquiring an additional 4,913,820 shares in the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 922,503 shares during the period. State Street Corp boosted its position in shares of Nuvation Bio by 4.8% during the third quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares in the last quarter. Finally, MPM Bioimpact LLC purchased a new stake in Nuvation Bio in the fourth quarter worth $11,077,000. Hedge funds and other 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.