Nuvation Bio (NYSE:NUVB) Shares Gap Up to $2.68

Nuvation Bio Inc. (NYSE:NUVB)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.68, but opened at $2.84. Nuvation Bio shares last traded at $2.79, with a volume of 113,975 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. BTIG Research raised Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Tuesday, March 26th. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Friday, March 1st. HC Wainwright raised their price target on shares of Nuvation Bio from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group raised Nuvation Bio from a “hold” rating to a “buy” rating and raised their price target for the company from $1.40 to $10.00 in a report on Wednesday, March 27th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Stock Performance

The firm has a 50-day moving average of $2.58 and a 200-day moving average of $1.83. The firm has a market capitalization of $632.35 million, a P/E ratio of -8.47 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Equities analysts anticipate that Nuvation Bio Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gladius Capital Management LP boosted its position in Nuvation Bio by 92.6% during the fourth quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock worth $47,000 after acquiring an additional 14,885 shares during the last quarter. Clarius Group LLC acquired a new stake in shares of Nuvation Bio in the 3rd quarter worth approximately $26,000. Beacon Pointe Advisors LLC bought a new stake in shares of Nuvation Bio in the 4th quarter worth approximately $33,000. Exchange Traded Concepts LLC raised its holdings in shares of Nuvation Bio by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after acquiring an additional 27,346 shares during the period. Finally, Marquette Asset Management LLC increased its stake in Nuvation Bio by 70.9% in the 4th quarter. Marquette Asset Management LLC now owns 111,759 shares of the company’s stock valued at $169,000 after buying an additional 46,369 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.