Nuvation Bio (NYSE:NUVB - Free Report) had its price objective increased by Royal Bank of Canada from $4.00 to $5.00 in a report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
Other analysts have also issued research reports about the company. Jefferies Financial Group raised 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 report on Wednesday, March 27th. Wedbush reaffirmed an outperform rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Friday, March 1st. HC Wainwright raised their target price on Nuvation Bio from $5.00 to $8.00 and gave the company a buy rating in a report on Thursday, March 28th. Finally, BTIG Research raised Nuvation Bio from a neutral rating to a buy rating and set a $5.00 target price on the stock in a report on Tuesday, March 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $6.60.
Read Our Latest Stock Report on NUVB
Nuvation Bio Price Performance
Shares of NUVB stock traded down $0.13 during trading on Wednesday, reaching $2.68. The company had a trading volume of 1,415,515 shares, compared to its average volume of 1,197,207. The firm's 50 day simple moving average is $2.46 and its two-hundred day simple moving average is $1.76. Nuvation Bio has a one year low of $0.95 and a one year high of $4.16. The company has a market capitalization of $584.36 million, a PE ratio of -7.88 and a beta of 1.37.
Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.04. Analysts forecast that Nuvation Bio will post -0.35 earnings per share for the current year.
Institutional Trading of Nuvation Bio
Several institutional investors have recently modified their holdings of the company. Jane Street Group LLC grew its holdings in shares of Nuvation Bio by 14.4% during the 1st quarter. Jane Street Group LLC now owns 24,362 shares of the company's stock worth $128,000 after purchasing an additional 3,070 shares in the last quarter. Raymond James & Associates boosted its stake in Nuvation Bio by 28.9% in the 1st quarter. Raymond James & Associates now owns 16,060 shares of the company's stock valued at $84,000 after buying an additional 3,600 shares in the last quarter. ProShare Advisors LLC boosted its stake in Nuvation Bio by 38.3% in the 2nd quarter. ProShare Advisors LLC now owns 18,946 shares of the company's stock valued at $34,000 after buying an additional 5,246 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Nuvation Bio by 8.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 83,090 shares of the company's stock valued at $159,000 after buying an additional 6,133 shares in the last quarter. Finally, Credit Suisse AG boosted its stake in Nuvation Bio by 9.3% in the 2nd quarter. Credit Suisse AG now owns 83,884 shares of the company's stock valued at $271,000 after buying an additional 7,115 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.
About Nuvation Bio
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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.
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