Nuvation Bio (NYSE:NUVB) Sets New 52-Week Low – Should You Sell?

Shares of Nuvation Bio Inc. (NYSE:NUVB) hit a new 52-week low during trading on Monday . The company traded as low as $1.70 and last traded at $1.72, with a volume of 451839 shares changing hands. The stock had previously closed at $1.82.

Wall Street Analyst Weigh In

NUVB has been the subject of several research reports. HC Wainwright decreased their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, March 27th. Jones Trading assumed coverage on Nuvation Bio in a research report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, 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.

Nuvation Bio Trading Down 0.3 %

The company has a market cap of $594.38 million, a P/E ratio of -0.81 and a beta of 1.47. The stock’s 50 day moving average is $2.16 and its 200-day moving average is $2.46.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Nuvation Bio in the 4th quarter worth approximately $27,000. Forum Financial Management LP bought a new stake in shares of Nuvation Bio in the 4th quarter worth $29,000. Cerity Partners LLC purchased a new position in shares of Nuvation Bio in the fourth quarter worth $31,000. Russell Investments Group Ltd. lifted its holdings in shares of Nuvation Bio by 15,183.7% during the fourth 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. Finally, Abacus Planning Group Inc. purchased a new stake in shares of Nuvation Bio during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.