Nuvation Bio (NYSE:NUVB) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note published on Monday,RTT News reports. Wedbush currently has a $5.00 price target on the stock.

Several other equities analysts have also issued reports on NUVB. HC Wainwright lifted their price objective on shares of Nuvation Bio from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.20.

Nuvation Bio Stock Up 3.6 %

Shares of NUVB stock opened at $1.89 on Monday. The firm has a market cap of $634.43 million, a price-to-earnings ratio of -0.87 and a beta of 1.45. The company’s 50 day moving average is $2.44 and its 200 day moving average is $2.60. Nuvation Bio has a 52-week low of $1.67 and a 52-week high of $4.16.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors have recently bought and sold shares of NUVB. Forum Financial Management LP acquired a new stake in Nuvation Bio in the fourth quarter valued at approximately $29,000. Cerity Partners LLC acquired a new stake in Nuvation Bio in the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. boosted its stake in Nuvation Bio by 15,183.7% in the fourth 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. Abacus Planning Group Inc. acquired a new stake in Nuvation Bio in the fourth quarter valued at approximately $44,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Nuvation Bio during the fourth quarter worth $45,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

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.