Connor Clark & Lunn Investment Management Ltd. Buys 25,524 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 422,260 shares of the company’s stock after buying an additional 25,524 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Nuvation Bio worth $1,123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Arizona State Retirement System boosted its holdings in Nuvation Bio by 47.2% in the 4th quarter. Arizona State Retirement System now owns 62,964 shares of the company’s stock worth $167,000 after buying an additional 20,176 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Nuvation Bio by 39.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company’s stock worth $5,176,000 after buying an additional 551,968 shares during the period. Bank of New York Mellon Corp boosted its holdings in Nuvation Bio by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company’s stock worth $1,379,000 after buying an additional 14,203 shares during the period. Ieq Capital LLC purchased a new stake in Nuvation Bio in the 4th quarter worth approximately $98,000. Finally, Abacus Planning Group Inc. purchased a new stake in Nuvation Bio in the 4th quarter worth approximately $44,000. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $1.96 on Friday. Nuvation Bio Inc. has a fifty-two week low of $1.67 and a fifty-two week high of $4.16. The firm’s fifty day moving average price is $2.27 and its 200-day moving average price is $2.53. The stock has a market cap of $662.12 million, a P/E ratio of -0.90 and a beta of 1.47.

Analysts Set New Price Targets

Several research firms have issued reports on NUVB. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Monday, March 3rd. Jones Trading initiated coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, HC Wainwright lowered their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nuvation Bio presently has a consensus rating of “Buy” and an average target price of $8.33.

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.