Nuvation Bio (NYSE:NUVB) Upgraded by BTIG Research to “Buy”

BTIG Research upgraded shares of Nuvation Bio (NYSE:NUVBFree Report) from a neutral rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports. BTIG Research currently has $5.00 price target on the stock.

Several other research firms have also recently weighed in on NUVB. HC Wainwright raised their price objective on shares of Nuvation Bio from $4.50 to $5.00 and gave the company a buy rating in a research report on Thursday, March 7th. Wedbush reiterated an outperform rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Friday, March 1st.

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Nuvation Bio Stock Performance

NYSE:NUVB opened at $2.90 on Tuesday. The company has a 50-day moving average of $1.92 and a 200-day moving average of $1.54. The company has a market capitalization of $631.25 million, a price-to-earnings ratio of -8.51 and a beta of 1.19. Nuvation Bio has a 52 week low of $0.95 and a 52 week high of $3.03.

Nuvation Bio (NYSE:NUVBGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Sell-side analysts forecast that Nuvation Bio will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Nuvation Bio by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,314,615 shares of the company’s stock valued at $11,045,000 after acquiring an additional 18,457 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Nuvation Bio by 92.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 794,108 shares of the company’s stock valued at $1,199,000 after purchasing an additional 381,555 shares during the period. Octagon Capital Advisors LP bought a new position in shares of Nuvation Bio in the fourth quarter valued at about $1,510,000. Brevan Howard Capital Management LP bought a new position in shares of Nuvation Bio in the fourth quarter valued at about $49,000. Finally, Royal Bank of Canada raised its position in shares of Nuvation Bio by 173.0% in the fourth quarter. Royal Bank of Canada now owns 66,895 shares of the company’s stock valued at $101,000 after purchasing an additional 42,392 shares during the period. Institutional investors own 61.67% of the company’s stock.

About Nuvation Bio

(Get Free Report)

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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