Nuvation Bio Inc. (NYSE:NUVB) Holdings Raised by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 58.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,950 shares of the company’s stock after purchasing an additional 9,603 shares during the quarter. Principal Financial Group Inc.’s holdings in Nuvation Bio were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Nuvation Bio by 551.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after purchasing an additional 1,146,794 shares during the period. Octagon Capital Advisors LP purchased a new position in shares of Nuvation Bio in the fourth quarter worth approximately $1,510,000. Jacobs Levy Equity Management Inc. grew its position in Nuvation Bio by 254.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock worth $2,726,000 after purchasing an additional 537,314 shares in the last quarter. Acadian Asset Management LLC raised its position in Nuvation Bio by 81.9% during the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after buying an additional 528,660 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in shares of Nuvation Bio by 198.7% in the 2nd 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 during the period. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Price Performance

NYSE NUVB opened at $3.07 on Tuesday. Nuvation Bio Inc. has a twelve month low of $0.95 and a twelve month high of $4.16. The company’s 50-day simple moving average is $3.13 and its 200 day simple moving average is $3.00.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 11th. Finally, HC Wainwright dropped their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $6.40.

Insider Buying and Selling at Nuvation Bio

In related news, Director Xiangmin Cui acquired 336,874 shares of the business’s stock in a transaction on Monday, June 24th. The stock was bought at an average cost of $2.98 per share, with a total value of $1,003,884.52. Following the completion of the acquisition, the director now owns 2,175,236 shares in the company, valued at $6,482,203.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 36.09% of the company’s stock.

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.