Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $2.68, but opened at $2.84. Nuvation Bio shares last traded at $2.79, with a volume of 113,975 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on NUVB shares. Wedbush reiterated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Friday, March 1st. Jefferies Financial Group upgraded Nuvation Bio from a "hold" rating to a "buy" rating and lifted their target price for the company from $1.40 to $10.00 in a research report on Wednesday, March 27th. Royal Bank of Canada upped their price target on Nuvation Bio from $4.00 to $5.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 17th. HC Wainwright boosted their price objective on Nuvation Bio from $5.00 to $8.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. Finally, BTIG Research upgraded shares of Nuvation Bio from a "neutral" rating to a "buy" rating and set a $5.00 target price on the stock in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $6.60.
Read Our Latest Report on Nuvation Bio
Nuvation Bio Stock Performance
The company has a market capitalization of $643.25 million, a PE ratio of -8.68 and a beta of 1.36. The stock has a fifty day moving average of $2.61 and a 200 day moving average of $1.84.
Nuvation Bio (NYSE:NUVB - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, equities analysts predict that Nuvation Bio Inc. will post -0.35 EPS for the current year.
Hedge Funds Weigh In On Nuvation Bio
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Octagon Capital Advisors LP bought a new stake in shares of Nuvation Bio in the 4th quarter worth about $1,510,000. Assenagon Asset Management S.A. increased its position in shares of Nuvation Bio by 219.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 738,831 shares of the company's stock valued at $1,116,000 after purchasing an additional 507,452 shares during the last quarter. Acuitas Investments LLC boosted its stake in Nuvation Bio by 45.5% during the fourth quarter. Acuitas Investments LLC now owns 460,471 shares of the company's stock worth $661,000 after buying an additional 143,972 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Nuvation Bio by 69.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,174 shares of the company's stock valued at $370,000 after acquiring an additional 112,891 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Nuvation Bio by 921.4% during the 3rd quarter. SG Americas Securities LLC now owns 110,226 shares of the company's stock worth $148,000 after purchasing an additional 99,434 shares during the period. 61.67% of the stock is owned by institutional investors.
About Nuvation Bio
(
Get 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 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.
Further Reading
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