Nuvation Bio Inc. (NYSE:NUVB) Stock Position Lessened by Algert Global LLC

Algert Global LLC reduced its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 32.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,189 shares of the company’s stock after selling 138,414 shares during the quarter. Algert Global LLC owned about 0.12% of Nuvation Bio worth $660,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NUVB. Vanguard Group Inc. raised its position in shares of Nuvation Bio by 3.0% during the 1st 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nuvation Bio by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock worth $3,192,000 after purchasing an additional 60,590 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 worth $4,932,000 after purchasing an additional 1,146,794 shares during the period. Dimensional Fund Advisors LP boosted its stake in Nuvation Bio by 415.2% during the 2nd 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 in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Nuvation Bio by 198.7% during 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 Stock Up 0.7 %

Shares of NYSE NUVB opened at $2.91 on Friday. Nuvation Bio Inc. has a 12 month low of $1.22 and a 12 month high of $4.16. The company has a market cap of $979.42 million, a price-to-earnings ratio of -1.34 and a beta of 1.35. The business has a fifty day simple moving average of $2.50 and a 200-day simple moving average of $2.88.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.73 million for the quarter. As a group, sell-side analysts expect that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, Director Robert Mashal purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $220,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.07% of the company’s stock.

Wall Street Analyst Weigh In

NUVB has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Thursday, November 7th. HC Wainwright cut their price target on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada raised their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.60.

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.