Assenagon Asset Management S.A. Lowers Stake in Nuvation Bio Inc. (NYSE:NUVB)

Assenagon Asset Management S.A. cut its stake in Nuvation Bio Inc. (NYSE:NUVB) by 23.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 438,539 shares of the company’s stock after selling 135,871 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of Nuvation Bio worth $1,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NUVB. Vanguard Group Inc. boosted its stake in Nuvation Bio by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after acquiring an additional 219,533 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Nuvation Bio by 81.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock worth $4,273,000 after purchasing an additional 528,660 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Nuvation Bio by 551.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after buying an additional 1,146,794 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Nuvation Bio by 415.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock worth $2,975,000 after acquiring an additional 820,669 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in Nuvation Bio by 198.7% in the second quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock worth $1,850,000 after acquiring an additional 421,563 shares in the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Tuesday, October 22nd. Finally, HC Wainwright cut their target price on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio has an average rating of “Buy” and an average price target of $6.40.

Nuvation Bio Price Performance

NUVB stock opened at $2.30 on Friday. The firm’s fifty day simple moving average is $2.62 and its 200-day simple moving average is $2.91. The company has a market capitalization of $573.25 million, a P/E ratio of -1.09 and a beta of 1.35. Nuvation Bio Inc. has a 12 month low of $1.17 and a 12 month high of $4.16.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.15) 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. As a group, sell-side analysts forecast that Nuvation Bio Inc. will post -0.29 earnings per share for the current year.

Nuvation Bio 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.