Exchange Traded Concepts LLC Sells 44,684 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Exchange Traded Concepts LLC decreased its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 45.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,548 shares of the company’s stock after selling 44,684 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Nuvation Bio were worth $125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Nuvation Bio by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after buying an additional 219,533 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Nuvation Bio by 551.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after acquiring an additional 1,146,794 shares during the last quarter. Acadian Asset Management LLC grew its holdings 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 purchasing an additional 528,660 shares during the period. Dimensional Fund Advisors LP grew 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 purchasing an additional 820,669 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Nuvation Bio by 254.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after purchasing an additional 537,314 shares in the last quarter. 61.67% of the stock is owned by institutional investors.

Insider Activity at Nuvation Bio

In related news, Director Robert Mashal purchased 100,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $220,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Tuesday. 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. Finally, HC Wainwright reduced their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.40.

Nuvation Bio Trading Up 2.1 %

NYSE NUVB opened at $2.41 on Wednesday. The firm’s 50 day moving average is $2.70 and its 200-day moving average is $2.96. Nuvation Bio Inc. has a 12-month low of $0.95 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The business had revenue of $1.44 million for the quarter. As a group, research analysts predict that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal year.

About Nuvation Bio

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.