Short Interest in Nuvation Bio Inc. (NYSE:NUVB) Increases By 14.3%

Nuvation Bio Inc. (NYSE:NUVB) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 25,210,000 shares, a growth of 14.3% from the January 15th total of 22,050,000 shares. Based on an average daily trading volume, of 2,590,000 shares, the short-interest ratio is currently 9.7 days. Currently, 11.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Nuvation Bio

Large investors have recently bought and sold shares of the stock. Forum Financial Management LP purchased a new position in Nuvation Bio during the fourth quarter worth about $29,000. Cerity Partners LLC bought a new stake in Nuvation Bio in the fourth quarter worth about $31,000. Russell Investments Group Ltd. raised its position in Nuvation Bio by 15,183.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after acquiring an additional 15,791 shares during the period. Abacus Planning Group Inc. bought a new stake in Nuvation Bio in the fourth quarter worth about $44,000. Finally, Cibc World Markets Corp bought a new stake in Nuvation Bio in the fourth quarter worth about $45,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Price Performance

NYSE NUVB traded down $0.02 during mid-day trading on Monday, reaching $2.28. 1,205,075 shares of the stock were exchanged, compared to its average volume of 2,371,635. The stock has a market cap of $765.70 million, a P/E ratio of -1.05 and a beta of 1.45. The stock has a 50 day simple moving average of $2.61 and a 200-day simple moving average of $2.67. Nuvation Bio has a one year low of $1.67 and a one year high of $4.16.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NUVB. HC Wainwright raised their target price on shares of Nuvation Bio from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $8.20.

Nuvation Bio Company Profile

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.