Nuvation Bio (NYSE:NUVB) Cut to Neutral at BTIG Research

BTIG Research downgraded shares of Nuvation Bio (NYSE:NUVB – Get Rating) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat.com reports.

NUVB has been the subject of several other research reports. HC Wainwright began coverage on Nuvation Bio in a research report on Wednesday, May 4th. They issued a buy rating and a $14.00 target price for the company. Wedbush decreased their target price on Nuvation Bio from $17.00 to $5.00 and set an outperform rating for the company in a research report on Monday.

Nuvation Bio Stock Down 8.0 %

NUVB opened at $2.29 on Tuesday. The firm has a market cap of $501.65 million, a PE ratio of -5.45 and a beta of 0.46. The business has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $5.01. Nuvation Bio has a fifty-two week low of $2.48 and a fifty-two week high of $10.45.

Nuvation Bio (NYSE:NUVB – Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.05. During the same period in the prior year, the business earned ($0.09) EPS. On average, equities research analysts anticipate that Nuvation Bio will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

A number of large investors have recently added to or reduced their stakes in NUVB. Allspring Global Investments Holdings LLC acquired a new position in shares of Nuvation Bio during the fourth quarter worth approximately $463,000. Rhumbline Advisers lifted its holdings in shares of Nuvation Bio by 187.3% during the fourth quarter. Rhumbline Advisers now owns 150,477 shares of the company’s stock worth $1,279,000 after buying an additional 98,100 shares during the last quarter. EDBI Pte Ltd acquired a new position in shares of Nuvation Bio during the fourth quarter worth approximately $10,799,000. Kingdon Capital Management L.L.C. acquired a new position in shares of Nuvation Bio during the fourth quarter worth approximately $3,600,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Nuvation Bio by 1,763.1% during the fourth quarter. SG Americas Securities LLC now owns 538,852 shares of the company’s stock worth $4,580,000 after buying an additional 509,929 shares during the last quarter. Institutional investors own 70.88% of the company’s stock.

About Nuvation Bio

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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-422, a small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6. It is also developing NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation; NUV-569, a differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair; NUV-1182, an adenosine receptor inhibitor; and drug-drug conjugate (DDC) platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as PARP inhibitor to address ER+ breast and ovarian cancer.