Connor Clark & Lunn Investment Management Ltd. Acquires 25,524 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 6.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 422,260 shares of the company’s stock after buying an additional 25,524 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nuvation Bio were worth $1,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in Nuvation Bio by 47.2% in the 4th quarter. Arizona State Retirement System now owns 62,964 shares of the company’s stock worth $167,000 after acquiring an additional 20,176 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nuvation Bio by 39.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company’s stock worth $5,176,000 after acquiring an additional 551,968 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Nuvation Bio by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company’s stock worth $1,379,000 after acquiring an additional 14,203 shares during the last quarter. Ieq Capital LLC bought a new stake in Nuvation Bio in the 4th quarter worth $98,000. Finally, Abacus Planning Group Inc. bought a new stake in Nuvation Bio in the 4th quarter worth $44,000. Institutional investors own 61.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NUVB. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. HC Wainwright cut their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Jones Trading assumed coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They set a “buy” rating and a $10.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Nuvation Bio presently has an average rating of “Buy” and an average price target of $8.33.

Nuvation Bio Price Performance

Shares of NYSE NUVB opened at $1.96 on Friday. Nuvation Bio Inc. has a 1 year low of $1.67 and a 1 year high of $4.16. The stock has a market cap of $662.12 million, a P/E ratio of -0.90 and a beta of 1.47. The firm has a 50-day moving average of $2.27 and a 200 day moving average of $2.53.

Nuvation Bio 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.