Nuvation Bio (NYSE:NUVB) Given New $10.00 Price Target at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its target price reduced by research analysts at HC Wainwright from $11.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 393.83% from the stock’s previous close.

NUVB has been the subject of a number of other research reports. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Monday, March 3rd. Royal Bank of Canada restated 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, According to data from MarketBeat, Nuvation Bio has an average rating of “Buy” and a consensus target price of $8.00.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $2.03 on Monday. The stock has a market capitalization of $681.55 million, a P/E ratio of -0.93 and a beta of 1.47. The business has a 50-day moving average of $2.41 and a two-hundred day moving average of $2.58. Nuvation Bio has a fifty-two week low of $1.67 and a fifty-two week high of $4.16.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of Nuvation Bio by 54.9% in the fourth quarter. FMR LLC now owns 45,285,572 shares of the company’s stock worth $120,460,000 after acquiring an additional 16,046,701 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Nuvation Bio by 45.4% in the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock valued at $41,849,000 after purchasing an additional 4,913,820 shares during the period. Geode Capital Management LLC grew its position in Nuvation Bio by 22.9% in the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock worth $13,174,000 after purchasing an additional 922,503 shares during the last quarter. State Street Corp increased its holdings in shares of Nuvation Bio by 4.8% during the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after purchasing an additional 191,031 shares during the period. Finally, MPM Bioimpact LLC acquired a new position in shares of Nuvation Bio during the fourth quarter valued at about $11,077,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.