BTIG Research upgraded shares of Nuvation Bio (NYSE:NUVB – Free Report) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $5.00 target price on the stock.
A number of other analysts have also weighed in on the stock. Wedbush reaffirmed an outperform rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Friday, March 1st. HC Wainwright upped their price objective on shares of Nuvation Bio from $4.50 to $5.00 and gave the company a buy rating in a research note on Thursday, March 7th.
Get Our Latest Analysis on Nuvation Bio
Nuvation Bio Stock Down 8.3 %
Nuvation Bio (NYSE:NUVB – Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Research analysts expect that Nuvation Bio will post -0.36 earnings per share for the current year.
Institutional Trading of Nuvation Bio
Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Nuvation Bio by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,314,615 shares of the company’s stock worth $11,045,000 after acquiring an additional 18,457 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Nuvation Bio by 92.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 794,108 shares of the company’s stock worth $1,199,000 after acquiring an additional 381,555 shares in the last quarter. Octagon Capital Advisors LP bought a new stake in Nuvation Bio in the fourth quarter worth approximately $1,510,000. Brevan Howard Capital Management LP bought a new stake in Nuvation Bio in the fourth quarter worth approximately $49,000. Finally, Royal Bank of Canada grew its position in Nuvation Bio by 173.0% in the fourth quarter. Royal Bank of Canada now owns 66,895 shares of the company’s stock worth $101,000 after acquiring an additional 42,392 shares in the last quarter. 61.67% of the stock is owned by 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.
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