Nuvation Bio (NYSE:NUVB) Price Target Lowered to $10.00 at HC Wainwright

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

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Monday, March 3rd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $8.00.

Nuvation Bio Price Performance

NUVB opened at $2.03 on Monday. The company has a market capitalization of $681.55 million, a P/E ratio of -0.93 and a beta of 1.47. The firm’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.58. Nuvation Bio has a fifty-two week low of $1.67 and a fifty-two week high of $4.16.

Institutional Trading of Nuvation Bio

A number of institutional investors have recently bought and sold shares of NUVB. Forum Financial Management LP bought a new position in shares of Nuvation Bio in the 4th quarter worth $29,000. Cerity Partners LLC acquired a new position in Nuvation Bio in the fourth quarter valued at about $31,000. Russell Investments Group Ltd. boosted its holdings in Nuvation Bio by 15,183.7% during the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after buying an additional 15,791 shares during the last quarter. Abacus Planning Group Inc. acquired a new position in shares of Nuvation Bio during the 4th quarter worth about $44,000. Finally, Cibc World Markets Corp bought a new stake in shares of Nuvation Bio in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 61.67% 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-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.