Nuvation Bio (NYSE:NUVB) Price Target Cut to $10.00 by Analysts at HC Wainwright

Nuvation Bio (NYSE:NUVB - Get Free Report) had its price target dropped by stock analysts at HC Wainwright from $11.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price would indicate a potential upside of 351.47% from the company's current price. HC Wainwright also issued estimates for Nuvation Bio's Q1 2025 earnings at ($0.17) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at ($0.71) EPS.

A number of other research analysts have also recently commented on the company. Wedbush reissued an "outperform" rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Monday, March 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $8.33.

Nuvation Bio Stock Down 1.1 %

Shares of NUVB stock traded down $0.03 on Monday, reaching $2.22. The company's stock had a trading volume of 4,392,817 shares, compared to its average volume of 2,674,788. Nuvation Bio has a 12-month low of $1.67 and a 12-month high of $4.16. The company has a market capitalization of $745.50 million, a P/E ratio of -1.02 and a beta of 1.47. The stock's 50 day simple moving average is $2.38 and its 200-day simple moving average is $2.57.

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Institutional Trading of Nuvation Bio

Several institutional investors and hedge funds have recently bought and sold shares of NUVB. FMR LLC lifted its holdings in Nuvation Bio by 54.9% in the fourth quarter. FMR LLC now owns 45,285,572 shares of the company's stock worth $120,460,000 after buying an additional 16,046,701 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Nuvation Bio by 45.4% during the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock valued at $41,849,000 after purchasing an additional 4,913,820 shares during the last quarter. MPM Bioimpact LLC purchased a new position in shares of Nuvation Bio during the fourth quarter valued at approximately $11,077,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Nuvation Bio during the third quarter valued at approximately $2,790,000. Finally, Millennium Management LLC lifted its holdings in shares of Nuvation Bio by 82.7% during the fourth quarter. Millennium Management LLC now owns 2,475,872 shares of the company's stock valued at $6,586,000 after purchasing an additional 1,120,874 shares during the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

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.