Short Interest in Nuvation Bio Inc. (NYSE:NUVB) Increases By 14.3%

Nuvation Bio Inc. (NYSE:NUVB) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 25,210,000 shares, an increase of 14.3% from the January 15th total of 22,050,000 shares. Based on an average daily volume of 2,590,000 shares, the short-interest ratio is presently 9.7 days. Currently, 11.0% of the company’s stock are short sold.

Nuvation Bio Price Performance

Nuvation Bio stock traded down $0.02 during trading hours on Monday, hitting $2.28. The company had a trading volume of 1,205,075 shares, compared to its average volume of 2,371,635. The firm has a market cap of $765.70 million, a PE ratio of -1.05 and a beta of 1.45. Nuvation Bio has a one year low of $1.67 and a one year high of $4.16. The firm has a 50-day moving average of $2.61 and a 200 day moving average of $2.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in shares of Nuvation Bio by 125.8% during the 3rd quarter. SG Americas Securities LLC now owns 72,057 shares of the company’s stock worth $165,000 after acquiring an additional 40,141 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $172,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Nuvation Bio by 9.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 396,736 shares of the company’s stock worth $909,000 after acquiring an additional 32,811 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $132,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Nuvation Bio by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock worth $3,192,000 after acquiring an additional 60,590 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NUVB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Monday, January 6th. Finally, HC Wainwright boosted their price target on shares of Nuvation Bio from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $8.20.

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.