Nuvation Bio’s (NUVB) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Nuvation Bio (NYSE:NUVB) in a research report sent to investors on Monday,Benzinga reports. They currently have a $7.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada increased their price objective on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a report on Monday, December 23rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $7.40.

Nuvation Bio Trading Down 7.7 %

NUVB stock opened at $3.00 on Monday. The firm has a 50-day moving average of $2.74 and a two-hundred day moving average of $2.82. The firm has a market capitalization of $1.01 billion, a PE ratio of -1.38 and a beta of 1.47. Nuvation Bio has a one year low of $1.43 and a one year high of $4.16.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. On average, equities research analysts anticipate that Nuvation Bio will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. bought a new position in Nuvation Bio during the third quarter valued at approximately $2,790,000. Dimensional Fund Advisors LP lifted its stake in shares of Nuvation Bio by 415.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares during the last quarter. Wexford Capital LP boosted its holdings in Nuvation Bio by 930.2% in the third quarter. Wexford Capital LP now owns 651,767 shares of the company’s stock worth $1,493,000 after purchasing an additional 588,500 shares in the last quarter. FMR LLC increased its position in Nuvation Bio by 1.4% during the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after buying an additional 416,932 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Nuvation Bio by 479.1% during the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock valued at $1,014,000 after buying an additional 366,429 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.