Nuvation Bio Inc. (NYSE:NUVB) Receives $8.33 Average PT from Analysts

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

NUVB has been the topic of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, March 3rd. HC Wainwright lowered their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Jones Trading initiated coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 target price (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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC bought a new position in Nuvation Bio in the fourth quarter worth approximately $27,000. Forum Financial Management LP bought a new position in shares of Nuvation Bio in the 4th quarter worth $29,000. Cerity Partners LLC bought a new position in shares of Nuvation Bio in the 4th quarter worth $31,000. Russell Investments Group Ltd. lifted its holdings in shares of Nuvation Bio by 15,183.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after purchasing an additional 15,791 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in shares of Nuvation Bio in the fourth quarter valued at $44,000. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Price Performance

Shares of NUVB stock opened at $1.97 on Wednesday. The business’s 50 day simple moving average is $2.31 and its 200 day simple moving average is $2.54. Nuvation Bio has a one year low of $1.67 and a one year high of $4.16. The stock has a market capitalization of $665.50 million, a PE ratio of -0.91 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.