Nuvation Bio (NYSE:NUVB) Given New $8.00 Price Target at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its price target upped by HC Wainwright from $5.00 to $8.00 in a report issued on Thursday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on NUVB. Jefferies Financial Group raised shares of Nuvation Bio from a hold rating to a buy rating and raised their price target for the stock from $1.40 to $10.00 in a research note on Wednesday. BTIG Research raised shares of Nuvation Bio from a neutral rating to a buy rating and set a $5.00 target price on the stock in a research report on Tuesday. Finally, Wedbush reissued an outperform rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Friday, March 1st.

Nuvation Bio Stock Down 8.3 %

Nuvation Bio stock opened at $3.64 on Thursday. Nuvation Bio has a 12-month low of $0.95 and a 12-month high of $4.16. The firm’s 50-day moving average is $2.01 and its two-hundred day moving average is $1.57.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. On average, research analysts anticipate that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Institutional Trading of Nuvation Bio

Hedge funds have recently made changes to their positions in the company. Centiva Capital LP purchased a new stake in shares of Nuvation Bio during the fourth quarter valued at approximately $26,000. Quantbot Technologies LP raised its stake in shares of Nuvation Bio by 147.7% during 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 period. Royal Bank of Canada raised its stake in shares of Nuvation Bio by 133.4% during the second quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock valued at $27,000 after purchasing an additional 8,687 shares during the period. Virtu Financial LLC purchased a new stake in shares of Nuvation Bio during the fourth quarter valued at approximately $31,000. Finally, Raymond James & Associates raised its stake in shares of Nuvation Bio by 28.9% during the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock valued at $84,000 after purchasing an additional 3,600 shares during the period. Hedge funds and other 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.