Nuvation Bio (NYSE:NUVB) Reaches New 1-Year High at $2.65

Nuvation Bio Inc. (NYSE:NUVB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $2.65 and last traded at $2.63, with a volume of 656006 shares traded. The stock had previously closed at $2.25.

Analyst Ratings Changes

A number of research analysts recently issued reports on NUVB shares. HC Wainwright boosted their price objective on Nuvation Bio from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Jefferies Financial Group raised shares of Nuvation Bio from a “hold” rating to a “buy” rating and lifted their price target for the company from $1.40 to $10.00 in a report on Wednesday. BTIG Research raised shares of Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Tuesday. Finally, Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Friday, March 1st.

Nuvation Bio Price Performance

The business has a 50-day moving average of $1.97 and a 200 day moving average of $1.56.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, February 29th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. As a group, analysts anticipate that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds have recently made changes to their positions in NUVB. Clarius Group LLC purchased a new stake in shares of Nuvation Bio in the third quarter worth about $26,000. Centiva Capital LP bought a new stake in Nuvation Bio during the fourth quarter worth approximately $26,000. Royal Bank of Canada increased its stake in Nuvation Bio by 133.4% during the second quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock worth $27,000 after acquiring an additional 8,687 shares during the last quarter. Virtu Financial LLC bought a new stake in Nuvation Bio during the fourth quarter worth approximately $31,000. Finally, Beacon Pointe Advisors LLC bought a new stake in Nuvation Bio during the fourth quarter worth approximately $33,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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.