Cibc World Markets Corp Purchases Shares of 16,967 Nuvation Bio Inc. (NYSE:NUVB)

Cibc World Markets Corp acquired a new position in Nuvation Bio Inc. (NYSE:NUVB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,967 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUVB. FMR LLC raised its position in Nuvation Bio by 1.4% in the third 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. State Street Corp raised its holdings in Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after purchasing an additional 191,031 shares during the period. Geode Capital Management LLC lifted its position in Nuvation Bio by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after purchasing an additional 196,247 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nuvation Bio by 39.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company’s stock valued at $5,176,000 after purchasing an additional 551,968 shares during the period. Finally, Frazier Life Sciences Management L.P. purchased a new stake in Nuvation Bio in the third quarter worth about $2,790,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NUVB. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Jones Trading initiated coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective for the company. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Thursday. Finally, HC Wainwright cut their price target on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 10th.

Nuvation Bio Stock Performance

NUVB stock opened at $1.88 on Friday. The company’s fifty day moving average price is $2.20 and its 200-day moving average price is $2.49. Nuvation Bio Inc. has a one year low of $1.71 and a one year high of $4.16. The company has a market capitalization of $635.02 million, a PE ratio of -0.86 and a beta of 1.47.

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.