Nuvation Bio (NYSE:NUVB) Sets New 12-Month Low – Should You Sell?

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

Analyst Upgrades and Downgrades

NUVB has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Thursday. HC Wainwright decreased their target price on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, Jones Trading assumed coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They set a “buy” rating and a $10.00 price target for the company.

Nuvation Bio Trading Down 4.7 %

The business has a 50 day simple moving average of $2.19 and a two-hundred day simple moving average of $2.48. The stock has a market cap of $587.61 million, a price-to-earnings ratio of -0.80 and a beta of 1.47.

Hedge Funds Weigh In On Nuvation Bio

Large investors have recently modified their holdings of the stock. FMR LLC raised its stake in Nuvation Bio by 54.9% during the fourth quarter. FMR LLC now owns 45,285,572 shares of the company’s stock valued at $120,460,000 after buying an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Nuvation Bio by 45.4% during the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock valued at $41,849,000 after acquiring an additional 4,913,820 shares in the last quarter. MPM Bioimpact LLC bought a new position in Nuvation Bio during the fourth quarter worth $11,077,000. Frazier Life Sciences Management L.P. acquired a new position in Nuvation Bio in the third quarter worth $2,790,000. Finally, Millennium Management LLC increased its stake in Nuvation Bio by 82.7% during the fourth quarter. Millennium Management LLC now owns 2,475,872 shares of the company’s stock valued at $6,586,000 after purchasing an additional 1,120,874 shares during the last quarter. 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.