Nuvation Bio (NYSE:NUVB) Downgraded to Neutral at BTIG Research

BTIG Research lowered shares of Nuvation Bio (NYSE:NUVB – Get Rating) from a buy rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat.com reports.

Several other analysts also recently issued reports on NUVB. HC Wainwright assumed coverage on Nuvation Bio in a research report on Wednesday, May 4th. They issued a buy rating and a $14.00 price objective on the stock. Wedbush reduced their price objective on Nuvation Bio from $17.00 to $5.00 and set an outperform rating on the stock in a research report on Monday.

Nuvation Bio Price Performance

Shares of NUVB stock opened at $2.29 on Tuesday. The business’s fifty day moving average price is $3.49 and its 200 day moving average price is $5.01. Nuvation Bio has a 1-year low of $2.48 and a 1-year high of $10.45. The firm has a market capitalization of $501.65 million, a PE ratio of -5.45 and a beta of 0.46.

Nuvation Bio (NYSE:NUVB – Get Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. During the same period in the previous year, the company earned ($0.09) EPS. Equities research analysts expect that Nuvation Bio will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of Nuvation Bio

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Nuvation Bio in the second quarter valued at $146,000. Jane Street Group LLC increased its stake in Nuvation Bio by 14.4% in the first quarter. Jane Street Group LLC now owns 24,362 shares of the company’s stock valued at $128,000 after purchasing an additional 3,070 shares during the last quarter. Quantbot Technologies LP increased its stake in Nuvation Bio by 147.7% in the first quarter. Quantbot Technologies LP now owns 13,383 shares of the company’s stock valued at $70,000 after purchasing an additional 7,981 shares during the last quarter. Farallon Capital Management LLC increased its stake in Nuvation Bio by 102.8% in the first quarter. Farallon Capital Management LLC now owns 2,900,000 shares of the company’s stock valued at $15,254,000 after purchasing an additional 1,470,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Nuvation Bio by 387.9% in the first quarter. Goldman Sachs Group Inc. now owns 716,445 shares of the company’s stock valued at $3,769,000 after purchasing an additional 569,597 shares during the last quarter. 70.88% of the stock is currently owned by hedge funds and other institutional investors.

About Nuvation Bio

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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-422, a small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6. It is also developing NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation; NUV-569, a differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair; NUV-1182, an adenosine receptor inhibitor; 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 PARP inhibitor to address ER+ breast and ovarian cancer.