Nuvation Bio (NYSE:NUVB) Rating Reiterated by Wedbush

Wedbush reaffirmed their outperform rating on shares of Nuvation Bio (NYSE:NUVB – Get Rating) in a report published on Thursday, Benzinga reports. They currently have a $5.00 target price on the stock.

Separately, Jefferies Financial Group lowered shares of Nuvation Bio from a buy rating to a hold rating and decreased their target price for the company from $5.00 to $2.00 in a report on Friday, January 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Nuvation Bio presently has a consensus rating of Moderate Buy and an average price target of $4.00.

Nuvation Bio Stock Performance

NUVB opened at $1.64 on Thursday. Nuvation Bio has a twelve month low of $1.55 and a twelve month high of $6.02. The firm’s 50-day moving average price is $2.11 and its 200 day moving average price is $2.12.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its holdings in Nuvation Bio by 0.9% during the 2nd quarter. FMR LLC now owns 31,885,031 shares of the company’s stock worth $103,308,000 after acquiring an additional 286,304 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 in the last quarter. Baupost Group LLC MA increased its holdings in shares of 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 in the last quarter. Braidwell LP purchased a new position in shares of Nuvation Bio in the 4th quarter valued at about $7,916,000. Finally, State Street Corp increased its holdings in shares of 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 in the last quarter. 64.91% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

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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.