Nuvation Bio (NYSE:NUVB) Reaches New 12-Month Low – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) shares reached a new 52-week low during trading on Monday . The stock traded as low as $1.70 and last traded at $1.72, with a volume of 451839 shares. The stock had previously closed at $1.82.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jones Trading initiated coverage on Nuvation Bio in a report on Wednesday, March 12th. They set a “buy” rating and a $10.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Thursday, March 27th. Finally, HC Wainwright lowered their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 10th.

Nuvation Bio Trading Down 0.3 %

The firm has a market cap of $594.38 million, a PE ratio of -0.81 and a beta of 1.47. The firm has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $2.46.

Institutional Trading of Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new position in Nuvation Bio in the 4th quarter worth $27,000. Forum Financial Management LP purchased a new position in shares of Nuvation Bio during the fourth quarter valued at about $29,000. Cerity Partners LLC bought a new position in Nuvation Bio in the fourth quarter worth about $31,000. Russell Investments Group Ltd. boosted its position in Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock valued at $42,000 after acquiring an additional 15,791 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new stake in Nuvation Bio during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.