Rhumbline Advisers Boosts Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Rhumbline Advisers grew its position in Nuvation Bio Inc. (NYSE:NUVB) by 25.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,939 shares of the company’s stock after buying an additional 53,389 shares during the period. Rhumbline Advisers owned 0.11% of Nuvation Bio worth $762,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NUVB. Beacon Pointe Advisors LLC purchased a new stake in shares of Nuvation Bio in the 4th quarter valued at approximately $33,000. Octagon Capital Advisors LP purchased a new stake in shares of Nuvation Bio in the 4th quarter valued at approximately $1,510,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Nuvation Bio in the 1st quarter valued at approximately $79,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Nuvation Bio in the 1st quarter valued at approximately $105,000. Finally, Vanguard Group Inc. grew its stake in shares of Nuvation Bio by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after buying an additional 219,533 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NUVB. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 11th. HC Wainwright lowered their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Nuvation Bio currently has an average rating of “Buy” and an average target price of $6.40.

Nuvation Bio Stock Down 2.1 %

Nuvation Bio stock opened at $2.74 on Tuesday. The firm has a market cap of $682.92 million, a PE ratio of -8.90 and a beta of 1.38. Nuvation Bio Inc. has a 52-week low of $0.95 and a 52-week high of $4.16. The company’s 50 day moving average is $3.10 and its two-hundred day moving average is $3.01.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The business had revenue of $1.44 million for the quarter. On average, equities research analysts anticipate that Nuvation Bio Inc. will post -0.33 earnings per share for the current fiscal year.

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.