HC Wainwright Has Lowered Expectations for Nuvation Bio (NYSE:NUVB) Stock Price

Nuvation Bio (NYSE:NUVB) had its price target lowered by research analysts at HC Wainwright from $11.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 333.84% from the stock’s previous close.

A number of other analysts have also commented on NUVB. Royal Bank of Canada restated an “outperform” rating and set a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio has an average rating of “Buy” and a consensus price target of $8.00.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $2.31 on Monday. Nuvation Bio has a 52-week low of $1.67 and a 52-week high of $4.16. The business’s 50 day simple moving average is $2.39 and its two-hundred day simple moving average is $2.57. The firm has a market cap of $775.79 million, a P/E ratio of -1.06 and a beta of 1.47.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nuvation Bio by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company’s stock worth $276,000 after purchasing an additional 5,693 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Nuvation Bio by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company’s stock worth $3,062,000 after buying an additional 5,925 shares in the last quarter. Zacks Investment Management boosted its stake in shares of Nuvation Bio by 21.5% in the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after buying an additional 6,394 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Nuvation Bio by 27.0% in the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock valued at $83,000 after acquiring an additional 6,673 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Nuvation Bio by 2.3% during the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company’s stock valued at $879,000 after acquiring an additional 7,344 shares during the last quarter. 61.67% of the stock is owned by hedge funds and other 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.