Brokerages Set Nuvation Bio Inc. (NYSE:NUVB) Target Price at $8.33

Shares of Nuvation Bio Inc. (NYSE:NUVB) have received an average recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $8.33.

A number of research analysts have recently issued reports on NUVB shares. 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 reiterated an “outperform” rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Monday, March 3rd. Finally, Jones Trading initiated coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They set a “buy” rating and a $10.00 price objective on the stock.

Institutional Trading of Nuvation Bio

A number of institutional investors have recently added to or reduced their stakes in NUVB. GSA Capital Partners LLP purchased a new stake in shares of Nuvation Bio in the third quarter valued at about $172,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Nuvation Bio by 9.0% in the third 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 stake in shares of Nuvation Bio in the third quarter valued at about $132,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nuvation Bio by 4.5% in 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 purchasing an additional 60,590 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its holdings in shares of Nuvation Bio by 47.0% in the third 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. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Down 3.4 %

Shares of Nuvation Bio stock opened at $2.14 on Wednesday. Nuvation Bio has a 52-week low of $1.67 and a 52-week high of $4.16. The company’s 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.55. The firm has a market cap of $723.08 million, a price-to-earnings ratio of -0.98 and a beta of 1.47.

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.