Nuvation Bio (NYSE:NUVB) is trading 5% higher


The stock price of Nuvation Bio Inc. (NYSE:NUVB – Get Free Report) rose 5% on Friday. The company traded at $2.71 and last traded at $2.71. About 138,989 shares traded during afternoon trading, an 88% decline from the average daily volume of 1,180,506 shares. The stock previously closed at $2.58.

Analyst upgrades and downgrades

Several equity research analysts have commented on NUVB stock. Royal Bank of Canada raised their price target on shares of Nuvation Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a research report on Wednesday. HC Wainwright raised their target price on Nuvation Bio from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, March 28. Jefferies Financial Group upgraded Nuvation Bio from a “hold” rating to a “buy” rating and raised their target price for the company from $1.40 to $10.00 in a research report on Wednesday, March 27. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Friday, March 1. Finally, BTIG Research upgraded Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price target for the stock in a research note on Tuesday, March 26. Five investment analysts have rated the stock with a buy rating. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price of $6.60.

Check out our latest report on NUVB

Nuvation Bio Stock Performance

The company has a market cap of $566.93 million, a price-to-earnings ratio of -7.65 and a beta of 1.37. The stock’s fifty-day moving average price is $2.49 and its 200-day moving average price is $1.77.

Nuvation Bio (NYSE:NUVB – Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. On average, research analysts predict that Nuvation Bio Inc. will post a profit per share of -0.35 for the current financial year.

Institutional investors are considering Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in the company. Centiva Capital LP bought a new position in shares of Nuvation Bio in the fourth quarter worth approximately $26,000. Quantbot Technologies LP increased its stake in Nuvation Bio by 147.7% in the first quarter. Quantbot Technologies LP now owns 13,383 shares of the company’s stock valued at $70,000 after acquiring an additional 7,981 shares during the period. Royal Bank of Canada increased its position in Nuvation Bio by 133.4% in the second quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock worth $27,000 after acquiring an additional 8,687 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Nuvation Bio in the fourth quarter worth approximately $31,000. Finally, Raymond James & Associates grew its position in shares of Nuvation Bio by 28.9% in the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock valued at $84,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s shares.

About Nuvation Bio

(Get a free report)

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 small molecule BD2-selective oral BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes that include c-myc; NUV-1156, an AR binder Xtandi that targets advanced prostate cancer with the potential to progress to earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform that utilizes a novel therapeutic approach within the drug-conjugate class of anticancer therapies to deliver anticancer therapies to cancer cells, as well as NUV-1176, a PARP inhibitor to target ER+ breast and ovarian cancer.

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