Nuvation Bio Inc. (NYSE:NUVB) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 39.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,945,983 shares of the company’s stock after purchasing an additional 551,968 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Nuvation Bio were worth $5,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NUVB. Abacus Planning Group Inc. acquired a new stake in shares of Nuvation Bio during the 4th quarter valued at about $44,000. Zacks Investment Management lifted its stake in Nuvation Bio by 21.5% in the third quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock valued at $83,000 after acquiring an additional 6,394 shares during the last quarter. Ieq Capital LLC bought a new stake in Nuvation Bio in the fourth quarter worth approximately $98,000. Intech Investment Management LLC bought a new stake in Nuvation Bio in the third quarter worth approximately $132,000. Finally, Palumbo Wealth Management LLC increased its stake in shares of Nuvation Bio by 297.4% during the 4th quarter. Palumbo Wealth Management LLC now owns 65,360 shares of the company’s stock worth $174,000 after purchasing an additional 48,914 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 equities research analysts recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Jones Trading assumed coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, HC Wainwright decreased their target price on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $8.33.

Nuvation Bio Stock Performance

NYSE NUVB opened at $1.94 on Wednesday. The stock has a 50-day simple moving average of $2.23 and a 200 day simple moving average of $2.50. Nuvation Bio Inc. has a twelve month low of $1.71 and a twelve month high of $4.16. The stock has a market capitalization of $657.04 million, a PE ratio of -0.89 and a beta of 1.47.

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.