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

Nuvation Bio (NYSE:NUVB) was upgraded by equities researchers at Jones Trading to a “strong-buy” rating in a report released on Tuesday, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on NUVB. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Monday, March 3rd. HC Wainwright decreased their target price on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Buy” and a consensus price target of $8.33.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.22 on Tuesday. The business has a fifty day simple moving average of $2.37 and a two-hundred day simple moving average of $2.57. Nuvation Bio has a 1 year low of $1.67 and a 1 year high of $4.16. The company has a market capitalization of $745.50 million, a P/E ratio of -1.02 and a beta of 1.47.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds have recently made changes to their positions in the stock. Forum Financial Management LP purchased a new position in shares of Nuvation Bio in the fourth quarter valued at $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Nuvation Bio by 54.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,806 shares of the company’s stock worth $925,000 after buying an additional 122,187 shares in the last quarter. Wexford Capital LP grew its position in Nuvation Bio by 45.2% during the fourth quarter. Wexford Capital LP now owns 946,219 shares of the company’s stock worth $2,517,000 after buying an additional 294,452 shares in the last quarter. Two Sigma Investments LP grew its position in Nuvation Bio by 0.5% during the fourth 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 in the last quarter. Finally, ProShare Advisors LLC grew its position in Nuvation Bio by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 51,060 shares of the company’s stock worth $136,000 after buying an additional 16,801 shares in the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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.