Nuvation Bio (NYSE:NUVB) Now Covered by Jones Trading

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

A number of other equities analysts also recently commented on NUVB. HC Wainwright decreased their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Buy” and a consensus target price of $8.33.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $2.25 on Wednesday. The company has a market cap of $755.59 million, a PE ratio of -1.03 and a beta of 1.47. The company has a fifty day moving average price of $2.38 and a two-hundred day moving average price of $2.57. Nuvation Bio has a 12 month low of $1.67 and a 12 month high of $4.16.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Forum Financial Management LP bought a new stake in shares of Nuvation Bio during the fourth quarter valued at about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Nuvation Bio by 54.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,806 shares of the company’s stock valued at $925,000 after purchasing an additional 122,187 shares in the last quarter. Wexford Capital LP raised its stake in shares of Nuvation Bio by 45.2% during the fourth quarter. Wexford Capital LP now owns 946,219 shares of the company’s stock valued at $2,517,000 after purchasing an additional 294,452 shares in the last quarter. Two Sigma Investments LP raised its stake 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 valued at $3,062,000 after purchasing an additional 5,925 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Nuvation Bio by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 51,060 shares of the company’s stock valued at $136,000 after purchasing an additional 16,801 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors.

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.