Nuvation Bio (NYSE:NUVB) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB – Get Rating) in a research report sent to investors on Thursday, Benzinga reports. Wedbush currently has a $5.00 target price on the stock.

Separately, Jefferies Financial Group cut shares of Nuvation Bio from a buy rating to a hold rating and cut their price objective for the company from $5.00 to $2.00 in a report on Friday, January 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Nuvation Bio presently has a consensus rating of Moderate Buy and a consensus price target of $4.00.

Nuvation Bio Stock Down 2.4 %

NUVB opened at $1.64 on Thursday. Nuvation Bio has a fifty-two week low of $1.55 and a fifty-two week high of $6.02. The company has a fifty day moving average of $2.11 and a two-hundred day moving average of $2.12.

Institutional Trading of Nuvation Bio

Several institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its position in shares of Nuvation Bio by 14.4% in the first quarter. Jane Street Group LLC now owns 24,362 shares of the company’s stock valued at $128,000 after purchasing an additional 3,070 shares during the period. Raymond James & Associates grew its position in shares of Nuvation Bio by 28.9% in the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock valued at $84,000 after purchasing an additional 3,600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Nuvation Bio by 38.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,409 shares of the company’s stock valued at $35,000 after purchasing an additional 5,072 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Nuvation Bio by 8.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 83,090 shares of the company’s stock valued at $159,000 after purchasing an additional 6,133 shares during the period. Finally, Gladius Capital Management LP grew its position in shares of Nuvation Bio by 47.3% in the fourth quarter. Gladius Capital Management LP now owns 19,479 shares of the company’s stock valued at $38,000 after purchasing an additional 6,257 shares during the period. Institutional investors and hedge funds own 64.91% of the company’s stock.

Nuvation Bio Company Profile

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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.