Nuvation Bio (NYSE:NUVB) Now Covered by Analysts at Jones Trading

Jones Trading began coverage on shares of Nuvation Bio (NYSE:NUVB) in a report issued on Wednesday morning,Benzinga reports. The brokerage issued a buy rating and a $10.00 target price on the stock.

A number of other brokerages have also issued reports on NUVB. HC Wainwright dropped their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. 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 research note on Tuesday, January 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Monday, March 3rd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.33.

Nuvation Bio Trading Down 3.4 %

Nuvation Bio stock opened at $2.14 on Wednesday. The stock has a 50 day moving average of $2.35 and a two-hundred day moving average of $2.56. Nuvation Bio has a twelve month low of $1.67 and a twelve month high of $4.16. The stock has a market capitalization of $718.57 million, a price-to-earnings ratio of -0.98 and a beta of 1.47.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in shares of Nuvation Bio during the third quarter valued at $172,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Nuvation Bio by 9.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 396,736 shares of the company’s stock valued at $909,000 after purchasing an additional 32,811 shares in the last quarter. Intech Investment Management LLC purchased a new position in Nuvation Bio in the 3rd quarter worth approximately $132,000. Charles Schwab Investment Management Inc. grew its stake in shares of Nuvation Bio by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock valued at $3,192,000 after acquiring an additional 60,590 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its position in shares of Nuvation Bio by 47.0% in the 3rd quarter. Meridian Wealth Management LLC now owns 82,840 shares of the company’s stock valued at $190,000 after purchasing an additional 26,495 shares in the last quarter. 61.67% of the stock is currently 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.