Nuvation Bio Inc. (NYSE:NUVB) has earned a consensus rating of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $17.40.
A number of equities research analysts recently issued reports on the company. Royal Bank of Canada assumed coverage on Nuvation Bio in a research note on Tuesday, April 6th. They issued an “outperform” rating and a $15.00 target price on the stock. Zacks Investment Research lowered Nuvation Bio from a “hold” rating to a “sell” rating in a research note on Tuesday.
Shares of NYSE:NUVB traded down $0.28 during trading on Thursday, hitting $8.59. 5,822 shares of the stock were exchanged, compared to its average volume of 711,778. The company has a fifty day simple moving average of $9.93. The company has a market capitalization of $1.87 billion and a P/E ratio of -37.96. Nuvation Bio has a 12-month low of $8.15 and a 12-month high of $15.23.
A number of institutional investors and hedge funds have recently modified their holdings of NUVB. Baupost Group LLC MA acquired a new position in Nuvation Bio in the 1st quarter valued at $82,384,000. Redmile Group LLC acquired a new position in Nuvation Bio in the 1st quarter valued at $47,454,000. Perceptive Advisors LLC acquired a new position in Nuvation Bio in the 1st quarter valued at $29,041,000. Ally Bridge Group NY LLC acquired a new position in Nuvation Bio in the 1st quarter valued at $20,900,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Nuvation Bio during the 1st quarter worth $10,450,000. Institutional investors own 53.92% of the company’s stock.
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-422, a small molecule inhibitor targeting CDK2, CDK4, and CDK6. It is also developing NUV-868, a selective inhibitor of the BET family of epigenetic transcriptional regulators; NUV-569, a differentiated selective inhibitor of the Wee1 kinase; NUV-1182, an adenosine receptor inhibitor; and DDC platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to androgen receptor-expressing cancer cells , as well as PARP inhibitor to ER-expressing cancer cells.
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