Nuvation Bio Inc. (NYSE:NUVB) Sees Significant Increase in Short Interest

Nuvation Bio Inc. (NYSE:NUVB) was the target of a significant growth in short interest during the month of 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 presently 9.7 days. Approximately 11.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. HC Wainwright lifted their target price on Nuvation Bio from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and a consensus price target of $8.20.

Nuvation Bio Trading Down 0.7 %

NYSE NUVB opened at $2.28 on Monday. The business’s 50 day moving average is $2.61 and its two-hundred day moving average is $2.67. Nuvation Bio has a 12-month low of $1.67 and a 12-month high of $4.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in Nuvation Bio by 125.8% in the third quarter. SG Americas Securities LLC now owns 72,057 shares of the company’s stock valued at $165,000 after acquiring an additional 40,141 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Nuvation Bio in the third quarter valued at about $172,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Nuvation Bio by 9.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 396,736 shares of the company’s stock worth $909,000 after buying an additional 32,811 shares in the last quarter. Intech Investment Management LLC acquired a new position in Nuvation Bio during the third quarter worth about $132,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Nuvation Bio by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock valued at $3,192,000 after buying an additional 60,590 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.