Nuvation Bio’s (NUVB) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report released on Tuesday,Benzinga reports. They currently have a $10.00 price objective on the stock, up from their prior price objective of $6.00.

Other analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Nuvation Bio in a research report on Monday. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $7.40.

Nuvation Bio Trading Down 7.7 %

Shares of NUVB opened at $3.00 on Tuesday. The stock has a market cap of $1.01 billion, a P/E ratio of -1.38 and a beta of 1.47. Nuvation Bio has a 1 year low of $1.43 and a 1 year high of $4.16. The stock’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $2.83.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. As a group, equities analysts forecast that Nuvation Bio will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its position in Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after buying an additional 191,031 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Nuvation Bio by 83.3% in the third quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock worth $1,429,000 after purchasing an additional 283,642 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Nuvation Bio by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock worth $9,227,000 after purchasing an additional 196,247 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Nuvation Bio by 415.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Nuvation Bio in the 3rd quarter valued at $634,000. 61.67% of the stock is 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.