Nuvation Bio Inc. (NYSE:NUVB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 51.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,502 shares of the company’s stock after selling 13,448 shares during the quarter. Principal Financial Group Inc.’s holdings in Nuvation Bio were worth $29,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Frazier Life Sciences Management L.P. acquired a new position in shares of Nuvation Bio during the 3rd quarter worth approximately $2,790,000. Dimensional Fund Advisors LP grew its holdings in Nuvation Bio by 415.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after buying an additional 820,669 shares in the last quarter. Wexford Capital LP increased its stake in shares of Nuvation Bio by 930.2% in the 3rd quarter. Wexford Capital LP now owns 651,767 shares of the company’s stock worth $1,493,000 after acquiring an additional 588,500 shares during the last quarter. FMR LLC raised its holdings in shares of Nuvation Bio by 1.4% during the 3rd quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after acquiring an additional 416,932 shares during the period. Finally, Algert Global LLC boosted its position in shares of Nuvation Bio by 281.0% during the 2nd quarter. Algert Global LLC now owns 426,603 shares of the company’s stock valued at $1,246,000 after acquiring an additional 314,635 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NUVB. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Nuvation Bio in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Stock Up 13.4 %

Shares of NYSE:NUVB opened at $3.22 on Wednesday. Nuvation Bio Inc. has a 52 week low of $1.43 and a 52 week high of $4.16. The company has a 50-day moving average price of $2.72 and a 200 day moving average price of $2.82. The company has a market cap of $1.08 billion, a P/E ratio of -1.48 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (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. Analysts expect that Nuvation Bio Inc. will post -0.4 EPS for the current 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.