Xponance Inc. purchased a new stake in Nuvation Bio Inc. (NYSE:NUVB – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,351 shares of the company’s stock, valued at approximately $33,000.
A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Nuvation Bio by 58.7% in the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after purchasing an additional 9,603 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after purchasing an additional 10,000 shares in the last quarter. Choreo LLC purchased a new position in Nuvation Bio in the second quarter worth approximately $47,000. Profund Advisors LLC purchased a new position in Nuvation Bio in the second quarter worth approximately $63,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Nuvation Bio in the first quarter worth approximately $79,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.
Nuvation Bio Stock Up 5.9 %
NYSE:NUVB opened at $2.34 on Friday. The stock’s fifty day moving average is $2.93 and its two-hundred day moving average is $3.01. Nuvation Bio Inc. has a 52 week low of $0.95 and a 52 week high of $4.16. The stock has a market capitalization of $578.38 million, a price-to-earnings ratio of -7.55 and a beta of 1.36.
Analysts Set New Price Targets
Several brokerages recently weighed in on NUVB. Royal Bank of Canada reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. HC Wainwright lowered their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.40.
Get Our Latest Analysis on Nuvation Bio
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.
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