Nuvation Bio’s (NUVB) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research report released on Thursday morning,RTT News reports. They currently have a $5.00 price objective on the stock.

A number of other equities research analysts have also weighed in on NUVB. HC Wainwright reduced their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a 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 target on the stock. Finally, 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 report on Tuesday, January 7th.

Nuvation Bio Stock Down 2.9 %

Shares of NYSE:NUVB opened at $1.82 on Thursday. Nuvation Bio has a fifty-two week low of $1.71 and a fifty-two week high of $3.97. The firm’s 50 day moving average price is $2.19 and its 200 day moving average price is $2.48. The stock has a market cap of $614.70 million, a price-to-earnings ratio of -0.84 and a beta of 1.47.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently bought and sold shares of the stock. FMR LLC raised its position in 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 purchasing an additional 16,046,701 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Nuvation Bio by 45.4% during the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock worth $41,849,000 after buying an additional 4,913,820 shares in the last quarter. MPM Bioimpact LLC purchased a new position in Nuvation Bio in the fourth quarter worth $11,077,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Nuvation Bio in the third quarter valued at about $2,790,000. Finally, Millennium Management LLC boosted its stake in shares of Nuvation Bio by 82.7% during the 4th quarter. Millennium Management LLC now owns 2,475,872 shares of the company’s stock worth $6,586,000 after acquiring an additional 1,120,874 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.