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

Nuvation Bio (NYSE:NUVB – Get Rating)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a report released on Thursday, Benzinga reports. They presently have a $6.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 265.85% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Jefferies Financial Group downgraded Nuvation Bio from a “buy” rating to a “hold” rating and cut their price objective for the company from $5.00 to $2.00 in a research note on Friday, January 6th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Thursday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $1.64 on Thursday. The stock’s 50 day simple moving average is $2.11 and its 200 day simple moving average is $2.12. Nuvation Bio has a twelve month low of $1.55 and a twelve month high of $6.02. The company has a market capitalization of $358.16 million, a price-to-earnings ratio of -3.28 and a beta of 0.66.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $106,000. AlphaCentric Advisors LLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $482,000. Caas Capital Management LP acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $863,000. Hunter Perkins Capital Management LLC grew its holdings in shares of Nuvation Bio by 58.6% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,000 shares of the company’s stock worth $44,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Nuvation Bio during the 3rd quarter worth approximately $66,000. 64.91% of the stock is owned by 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.