Nuvation Bio Inc. (NYSE:NUVB – Get Rating) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $2.20 and last traded at $2.30, with a volume of 25964 shares changing hands. The stock had previously closed at $2.35.
Analyst Ratings Changes
Several analysts have recently issued reports on NUVB shares. Wedbush decreased their target price on shares of Nuvation Bio from $17.00 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, August 1st. BMO Capital Markets lowered shares of Nuvation Bio from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $2.50 in a research report on Tuesday, August 2nd. HC Wainwright reduced their price objective on shares of Nuvation Bio from $14.00 to $4.50 and set a “buy” rating on the stock in a research report on Monday, August 22nd. Finally, BTIG Research lowered shares of Nuvation Bio from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 2nd.
Nuvation Bio Stock Performance
The firm has a market capitalization of $495.40 million, a P/E ratio of -4.63 and a beta of 0.39. The stock’s 50 day simple moving average is $2.91 and its 200 day simple moving average is $3.95.
Hedge Funds Weigh In On Nuvation Bio
A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its stake in Nuvation Bio by 690.5% in the 2nd quarter. Jane Street Group LLC now owns 192,581 shares of the company’s stock worth $624,000 after acquiring an additional 168,219 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Nuvation Bio by 68.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 85,107 shares of the company’s stock valued at $276,000 after purchasing an additional 34,653 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Nuvation Bio by 97.0% during the second quarter. Cubist Systematic Strategies LLC now owns 311,036 shares of the company’s stock valued at $1,008,000 after purchasing an additional 153,183 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Nuvation Bio during the second quarter valued at approximately $934,000. Finally, Millennium Management LLC boosted its stake in shares of Nuvation Bio by 760.3% during the second quarter. Millennium Management LLC now owns 472,773 shares of the company’s stock valued at $1,532,000 after purchasing an additional 417,816 shares in the last quarter. 71.17% of the stock is currently owned by institutional investors.
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-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.
- Get a free copy of the StockNews.com research report on Nuvation Bio (NUVB)
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