Nuvation Bio (NYSE:NUVB) Stock Rating Reaffirmed by Wedbush

Posted by on Aug 6th, 2023

Nuvation Bio (NYSE:NUVB – Get Free Report)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report issued on Friday, RTT News reports. They currently have a $5.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 171.74% from the stock’s current price.

Nuvation Bio Trading Up 4.5 %

Shares of NYSE NUVB opened at $1.84 on Friday. Nuvation Bio has a 12 month low of $1.52 and a 12 month high of $3.12. The stock has a 50 day moving average of $1.75 and a 200-day moving average of $1.83. The company has a market capitalization of $402.59 million, a P/E ratio of -4.49 and a beta of 0.71.

Nuvation Bio (NYSE:NUVB – Get Free Report) last issued its earnings results on Thursday, May 4th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Analysts predict that Nuvation Bio will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NUVB. FMR LLC boosted its stake in Nuvation Bio by 23.2% in the 1st quarter. FMR LLC now owns 32,670,482 shares of the company’s stock valued at $54,233,000 after purchasing an additional 6,143,517 shares during the period. Vanguard Group Inc. boosted its stake in Nuvation Bio by 14.8% in the 1st quarter. Vanguard Group Inc. now owns 12,932,460 shares of the company’s stock valued at $68,025,000 after purchasing an additional 1,671,908 shares during the period. Baupost Group LLC MA boosted its stake in Nuvation Bio by 21.1% in the 1st quarter. Baupost Group LLC MA now owns 10,443,494 shares of the company’s stock valued at $54,933,000 after purchasing an additional 1,820,473 shares during the period. Braidwell LP bought a new stake in Nuvation Bio in the 4th quarter valued at $7,916,000. Finally, State Street Corp boosted its stake in Nuvation Bio by 4.1% in the 3rd quarter. State Street Corp now owns 3,070,398 shares of the company’s stock valued at $6,878,000 after purchasing an additional 122,284 shares during the period. 62.83% of the stock is currently owned by institutional investors.

Nuvation Bio Company Profile

(Get Free Report)

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 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 that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.

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