Nuvation Bio (NYSE:NUVB) Reaches New 1-Year Low – What’s Next?

Nuvation Bio Inc. (NYSE:NUVB) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.54 and last traded at $1.60, with a volume of 614093 shares. The stock had previously closed at $1.66.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. HC Wainwright reduced their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Jones Trading began coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They set a “buy” rating and a $10.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Thursday, March 27th.

Nuvation Bio Price Performance

The stock’s fifty day moving average is $2.10 and its 200-day moving average is $2.43. The stock has a market capitalization of $590.99 million, a PE ratio of -0.81 and a beta of 1.47.

Institutional Trading of Nuvation Bio

Several large investors have recently added to or reduced their stakes in NUVB. Wealth Enhancement Advisory Services LLC purchased a new stake in Nuvation Bio in the fourth quarter valued at approximately $27,000. Forum Financial Management LP acquired a new position in Nuvation Bio during the 4th quarter worth $29,000. Cerity Partners LLC purchased a new stake in Nuvation Bio during the 4th quarter worth about $31,000. Russell Investments Group Ltd. increased its holdings in Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after purchasing an additional 15,791 shares during the period. Finally, Abacus Planning Group Inc. acquired a new stake in Nuvation Bio in the 4th quarter valued at about $44,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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.