Nuvation Bio (NYSE:NUVB) Stock Price Up 6.1%

Nuvation Bio Inc. (NYSE:NUVB) shares were up 6.1% during trading on Wednesday . The company traded as high as $3.52 and last traded at $3.50. Approximately 580,257 shares were traded during trading, a decline of 51% from the average daily volume of 1,177,616 shares. The stock had previously closed at $3.30.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BTIG Research raised Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Tuesday, March 26th. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Wednesday. Royal Bank of Canada lifted their price objective on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. HC Wainwright boosted their price objective on shares of Nuvation Bio from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group raised shares of Nuvation Bio from a “hold” rating to a “buy” rating and raised their target price for the stock from $1.40 to $10.00 in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Trading Down 2.6 %

The firm has a market cap of $723.93 million, a PE ratio of -10.71 and a beta of 1.42. The business’s 50-day simple moving average is $2.94 and its 200 day simple moving average is $2.04.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Analysts expect that Nuvation Bio Inc. will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NUVB. Jacobs Levy Equity Management Inc. boosted its position in Nuvation Bio by 254.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after purchasing an additional 537,314 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Nuvation Bio by 645.5% during the first quarter. Public Employees Retirement System of Ohio now owns 114,946 shares of the company’s stock valued at $418,000 after buying an additional 99,527 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Nuvation Bio by 551.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after buying an additional 1,146,794 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Nuvation Bio by 81.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after buying an additional 528,660 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Nuvation Bio by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after buying an additional 219,533 shares during the last quarter. 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.