Nuvation Bio Inc. (NYSE:NUVB) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 225,619 shares of the company’s stock after selling 8,670 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Nuvation Bio were worth $517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in Nuvation Bio by 33.6% in the second quarter. Bank of New York Mellon Corp now owns 626,905 shares of the company’s stock worth $1,831,000 after buying an additional 157,511 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Nuvation Bio during the 2nd quarter valued at $126,000. Panagora Asset Management Inc. lifted its holdings 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 valued at $1,850,000 after purchasing an additional 421,563 shares in the last quarter. Principal Financial Group Inc. grew its stake in Nuvation Bio by 58.7% during the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after acquiring an additional 9,603 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Nuvation Bio by 25.7% in the 2nd quarter. Rhumbline Advisers now owns 260,939 shares of the company’s stock worth $762,000 after buying an additional 53,389 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Nuvation Bio Stock Down 0.4 %

NYSE NUVB opened at $2.68 on Friday. The stock has a market cap of $902.00 million, a P/E ratio of -1.24 and a beta of 1.46. Nuvation Bio Inc. has a twelve month low of $1.43 and a twelve month high of $4.16. The company’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $2.83.

Nuvation Bio (NYSE:NUVB) last announced its 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. Research analysts anticipate that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert Mashal acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $2.20 per share, for a total transaction 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 trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.07% of the stock is currently owned by company insiders.

Nuvation Bio Company 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.