43,050 Shares in Nuvation Bio Inc. (NYSE:NUVB) Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB) during the second quarter, Holdings Channel reports. The fund acquired 43,050 shares of the company’s stock, valued at approximately $126,000.

A number of other large investors have also recently added to or reduced their stakes in NUVB. Beacon Pointe Advisors LLC acquired a new stake in shares of Nuvation Bio in the 4th quarter valued at about $33,000. Susquehanna Fundamental Investments LLC acquired a new stake in Nuvation Bio during the first quarter valued at approximately $79,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in Nuvation Bio during the first quarter valued at approximately $105,000. Public Employees Retirement System of Ohio lifted its holdings in Nuvation Bio by 645.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 114,946 shares of the company’s stock worth $418,000 after buying an additional 99,527 shares during the last quarter. Finally, Octagon Capital Advisors LP acquired a new position in shares of Nuvation Bio in the 4th quarter worth approximately $1,510,000. 61.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nuvation Bio news, Director Xiangmin Cui purchased 87,715 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $2.99 per share, with a total value of $262,267.85. Following the completion of the acquisition, the director now owns 1,762,951 shares in the company, valued at approximately $5,271,223.49. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 36.09% of the stock is owned by insiders.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.97 on Tuesday. Nuvation Bio Inc. has a 12-month low of $0.95 and a 12-month high of $4.16. The business has a 50 day simple moving average of $3.13 and a 200 day simple moving average of $2.96. The firm has a market capitalization of $740.24 million, a P/E ratio of -9.58 and a beta of 1.38.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. Research analysts anticipate that Nuvation Bio Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, August 22nd. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Nuvation Bio in a report on Wednesday, July 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.60.

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.