Nuvation Bio (NYSE:NUVB) Stock Price Up 5%

Nuvation Bio Inc. (NYSE:NUVB) shares rose 5% during mid-day trading on Friday . The company traded as high as $2.71 and last traded at $2.71. Approximately 138,989 shares changed hands during trading, a decline of 88% from the average daily volume of 1,180,506 shares. The stock had previously closed at $2.58.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Friday, March 1st. Royal Bank of Canada boosted their price objective on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research report on Wednesday. BTIG Research raised shares of Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, March 26th. Jefferies Financial Group raised shares of Nuvation Bio from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1.40 to $10.00 in a research report on Wednesday, March 27th. Finally, 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $6.60.

Nuvation Bio Stock Up 2.7 %

The business’s fifty day moving average is $2.47 and its 200-day moving average is $1.76. The stock has a market capitalization of $577.83 million, a PE ratio of -7.97 and a beta of 1.37.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. As a group, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors have recently bought and sold shares of NUVB. JPMorgan Chase & Co. grew its stake in Nuvation Bio by 6.4% during the first quarter. JPMorgan Chase & Co. now owns 715,400 shares of the company’s stock worth $3,762,000 after buying an additional 43,179 shares during the period. Raymond James & Associates grew its stake in Nuvation Bio by 28.9% during the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock worth $84,000 after buying an additional 3,600 shares during the period. MetLife Investment Management LLC grew its stake in Nuvation Bio by 55.4% during the first quarter. MetLife Investment Management LLC now owns 89,675 shares of the company’s stock worth $472,000 after buying an additional 31,975 shares during the period. Rhumbline Advisers grew its stake in Nuvation Bio by 8.1% during the first quarter. Rhumbline Advisers now owns 162,651 shares of the company’s stock worth $856,000 after buying an additional 12,174 shares during the period. Finally, Vanguard Group Inc. grew its stake in Nuvation Bio by 14.8% during the first quarter. Vanguard Group Inc. now owns 12,932,460 shares of the company’s stock worth $68,025,000 after buying an additional 1,671,908 shares during the period. 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.