BMO Capital Markets lowered shares of Nuvation Bio (NYSE:NUVB – Get Rating) from an outperform rating to a market perform rating in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have $2.50 price target on the stock, down from their previous price target of $8.00.
A number of other brokerages also recently issued reports on NUVB. HC Wainwright initiated coverage on shares of Nuvation Bio in a report on Wednesday, May 4th. They issued a buy rating and a $14.00 price target on the stock. BTIG Research downgraded shares of Nuvation Bio from a buy rating to a neutral rating in a report on Tuesday. Finally, Wedbush reduced their price target on shares of Nuvation Bio from $17.00 to $5.00 and set an outperform rating on the stock in a report on Monday, August 1st.
Nuvation Bio Stock Performance
NUVB opened at $2.49 on Tuesday. Nuvation Bio has a fifty-two week low of $2.25 and a fifty-two week high of $10.45. The firm’s fifty day moving average is $3.44 and its 200 day moving average is $4.96. The stock has a market cap of $545.46 million, a price-to-earnings ratio of -5.90 and a beta of 0.46.
Hedge Funds Weigh In On Nuvation Bio
Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Nuvation Bio during the 4th quarter worth approximately $463,000. Rhumbline Advisers increased its stake in Nuvation Bio by 187.3% during the 4th quarter. Rhumbline Advisers now owns 150,477 shares of the company’s stock valued at $1,279,000 after purchasing an additional 98,100 shares in the last quarter. EDBI Pte Ltd acquired a new position in Nuvation Bio during the 4th quarter valued at approximately $10,799,000. Kingdon Capital Management L.L.C. acquired a new position in Nuvation Bio during the 4th quarter valued at approximately $3,600,000. Finally, SG Americas Securities LLC increased its stake in Nuvation Bio by 1,763.1% during the 4th quarter. SG Americas Securities LLC now owns 538,852 shares of the company’s stock valued at $4,580,000 after purchasing an additional 509,929 shares in the last quarter. 70.88% of the stock is owned by hedge funds and other 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.
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