Nuvation Bio Inc. (NYSE:NUVB) Stake Lowered by Algert Global LLC

Algert Global LLC decreased its position in Nuvation Bio Inc. (NYSE:NUVB) by 32.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 288,189 shares of the company’s stock after selling 138,414 shares during the quarter. Algert Global LLC’s holdings in Nuvation Bio were worth $660,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Nuvation Bio by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after purchasing an additional 219,533 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after buying an additional 1,146,794 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Nuvation Bio by 415.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after buying an additional 820,669 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of 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 buying an additional 421,563 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Nuvation Bio by 58.7% during the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock worth $76,000 after acquiring an additional 9,603 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on NUVB shares. Royal Bank of Canada raised their price objective on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, November 7th. Finally, HC Wainwright lowered their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio presently has an average rating of “Buy” and a consensus target price of $6.60.

Insider Activity at Nuvation Bio

In other news, Director Robert Mashal bought 100,000 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $220,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.07% of the stock is owned by corporate insiders.

Nuvation Bio Stock Up 0.7 %

Shares of NUVB stock opened at $2.91 on Friday. Nuvation Bio Inc. has a 12 month low of $1.22 and a 12 month high of $4.16. The firm has a market cap of $979.42 million, a PE ratio of -1.34 and a beta of 1.35. The stock has a 50 day moving average of $2.50 and a 200-day moving average of $2.88.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.73 million for the quarter. As a group, equities analysts predict that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal 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.