Nuvation Bio (NYSE:NUVB) Coverage Initiated by Analysts at Jones Trading

Jones Trading started coverage on shares of Nuvation Bio (NYSE:NUVB) in a report issued on Wednesday,Benzinga reports. The firm issued a buy rating and a $10.00 target price on the stock.

NUVB has been the subject of several other research reports. HC Wainwright lowered their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and an average price target of $8.33.

Nuvation Bio Stock Performance

NYSE NUVB opened at $2.25 on Wednesday. Nuvation Bio has a one year low of $1.67 and a one year high of $4.16. The company’s 50 day moving average price is $2.38 and its 200 day moving average price is $2.57. The firm has a market capitalization of $755.59 million, a price-to-earnings ratio of -1.03 and a beta of 1.47.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Nuvation Bio by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company’s stock worth $276,000 after buying an additional 5,693 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Nuvation Bio by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company’s stock worth $3,062,000 after buying an additional 5,925 shares in the last quarter. Zacks Investment Management grew its position in shares of Nuvation Bio by 21.5% during the third quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after buying an additional 6,394 shares in the last quarter. LPL Financial LLC grew its position in shares of Nuvation Bio by 27.0% during the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock worth $83,000 after buying an additional 6,673 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Nuvation Bio by 2.3% during the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company’s stock worth $879,000 after buying an additional 7,344 shares in the last quarter. Institutional investors and hedge funds 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.