Nuvation Bio Inc. (NYSE:NUVB – Get Free Report)’s share price traded down 2.5% on Friday . The stock traded as low as $2.14 and last traded at $2.16. 1,928,817 shares changed hands during trading, a decline of 1% from the average session volume of 1,947,875 shares. The stock had previously closed at $2.21.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. HC Wainwright cut their price target on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Jones Trading began coverage on shares of Nuvation Bio in a research note on Wednesday. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Monday, March 3rd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $8.33.
Check Out Our Latest Report on Nuvation Bio
Nuvation Bio Stock Performance
Hedge Funds Weigh In On Nuvation Bio
Several hedge funds have recently modified their holdings of NUVB. Forum Financial Management LP bought a new position in Nuvation Bio during the fourth quarter valued at about $29,000. Cerity Partners LLC bought a new position in shares of Nuvation Bio during the 4th quarter valued at about $31,000. Russell Investments Group Ltd. boosted its position in shares of Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock valued at $42,000 after purchasing an additional 15,791 shares in the last quarter. Abacus Planning Group Inc. acquired a new position in shares of Nuvation Bio in the 4th quarter worth approximately $44,000. Finally, Cibc World Markets Corp bought a new stake in shares of Nuvation Bio in the 4th quarter worth approximately $45,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.
Nuvation Bio Company Profile
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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