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

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

NUVB has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. HC Wainwright increased their price objective on shares of Nuvation Bio from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $8.20.

Nuvation Bio Trading Up 3.6 %

Shares of NYSE:NUVB opened at $1.89 on Monday. Nuvation Bio has a 12 month low of $1.67 and a 12 month high of $4.16. The company has a 50-day moving average price of $2.44 and a 200 day moving average price of $2.60. The company has a market cap of $634.43 million, a price-to-earnings ratio of -0.87 and a beta of 1.45.

Institutional Trading of Nuvation Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Forum Financial Management LP purchased a new position in shares of Nuvation Bio during the fourth quarter worth approximately $29,000. Cerity Partners LLC purchased a new position in shares of Nuvation Bio during the fourth quarter worth approximately $31,000. Russell Investments Group Ltd. increased its position in shares of 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 during the period. Abacus Planning Group Inc. purchased a new position in shares of Nuvation Bio during the fourth quarter worth approximately $44,000. Finally, Cibc World Markets Corp purchased a new position in shares of Nuvation Bio during the fourth quarter worth approximately $45,000. 61.67% of the stock is 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.