Nuvation Bio Inc. (NYSE:NUVB) Short Interest Up 14.3% in January

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) was the recipient of a large 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 volume of 2,590,000 shares, the short-interest ratio is presently 9.7 days. Approximately 11.0% of the company's shares are short sold.

Nuvation Bio Stock Performance

Shares of NUVB traded down $0.04 during mid-day trading on Thursday, reaching $2.27. The stock had a trading volume of 749,891 shares, compared to its average volume of 2,375,178. The firm has a market cap of $762.33 million, a price-to-earnings ratio of -1.04 and a beta of 1.45. Nuvation Bio has a 12 month low of $1.67 and a 12 month high of $4.16. The business has a fifty day moving average of $2.57 and a 200 day moving average of $2.65.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. HC Wainwright boosted their price objective on shares of Nuvation Bio from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Wedbush reissued an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Monday, January 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $8.20.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nuvation Bio by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company's stock worth $276,000 after purchasing an additional 5,693 shares during the period. Two Sigma Investments LP boosted its position in shares of Nuvation Bio by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company's stock worth $3,062,000 after acquiring an additional 5,925 shares during the last quarter. Zacks Investment Management boosted its position in shares of Nuvation Bio by 21.5% during the third quarter. Zacks Investment Management now owns 36,125 shares of the company's stock worth $83,000 after acquiring an additional 6,394 shares during the last quarter. LPL Financial LLC boosted its position in shares of Nuvation Bio by 27.0% during the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company's stock worth $83,000 after acquiring an additional 6,673 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Nuvation Bio by 2.3% during the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company's stock worth $879,000 after acquiring an additional 7,344 shares during the last quarter. 61.67% of the stock is currently owned by 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-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.