Nuvation Bio (NYSE:NUVB) Stock Rating Upgraded by Jones Trading

Nuvation Bio (NYSE:NUVB) was upgraded by analysts at Jones Trading to a “strong-buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports.

A number of other analysts have also commented on NUVB. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Monday, March 3rd. Finally, HC Wainwright decreased their price target 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. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Nuvation Bio presently has an average rating of “Buy” and a consensus price target of $8.33.

Nuvation Bio Trading Down 1.1 %

NUVB opened at $2.22 on Tuesday. The stock has a market capitalization of $745.50 million, a P/E ratio of -1.02 and a beta of 1.47. Nuvation Bio has a 12 month low of $1.67 and a 12 month high of $4.16. The firm’s fifty day simple moving average is $2.37 and its 200 day simple moving average is $2.57.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NUVB. Forum Financial Management LP bought a new stake in shares of Nuvation Bio during the 4th quarter worth approximately $29,000. Cerity Partners LLC acquired a new position in Nuvation Bio during the fourth quarter worth $31,000. Russell Investments Group Ltd. raised its position in Nuvation Bio by 15,183.7% during the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after acquiring an additional 15,791 shares in the last quarter. Abacus Planning Group Inc. acquired a new stake in Nuvation Bio in the fourth quarter valued at $44,000. Finally, Cibc World Markets Corp bought a new position in shares of Nuvation Bio in the 4th quarter valued at about $45,000. 61.67% of the stock is currently owned by institutional investors.

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.