Nuvation Bio (NYSE:NUVB) Upgraded to “Strong-Buy” at Jones Trading

Nuvation Bio (NYSE:NUVB) was upgraded by research analysts at Jones Trading to a “strong-buy” rating in a report issued on Tuesday, MarketBeat.com reports.

Other analysts have also recently issued reports about the company. HC Wainwright dropped their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Nuvation Bio presently has a consensus rating of “Buy” and an average target price of $8.33.

Nuvation Bio Stock Performance

NYSE NUVB opened at $2.22 on Tuesday. Nuvation Bio has a 52 week low of $1.67 and a 52 week high of $4.16. The stock has a market capitalization of $745.50 million, a P/E ratio of -1.02 and a beta of 1.47. The stock has a fifty day moving average of $2.37 and a 200-day moving average of $2.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nuvation Bio by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company’s stock worth $276,000 after purchasing an additional 5,693 shares during the period. Two Sigma Investments LP raised its stake in Nuvation Bio by 0.5% during the 4th 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 during the period. Zacks Investment Management lifted its holdings in 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 acquiring an additional 6,394 shares in the last quarter. LPL Financial LLC lifted its holdings in 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 acquiring an additional 6,673 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Nuvation Bio by 2.3% in the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company’s stock valued at $879,000 after acquiring an additional 7,344 shares during the period. Institutional investors 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.