SG Americas Securities LLC Raises Holdings in Nuvation Bio Inc. (NYSE:NUVB)

SG Americas Securities LLC increased its holdings in Nuvation Bio Inc. (NYSE:NUVBGet Rating) by 39.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 223,031 shares of the company’s stock after purchasing an additional 63,351 shares during the quarter. SG Americas Securities LLC’s holdings in Nuvation Bio were worth $500,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NUVB. Baupost Group LLC MA grew its position in Nuvation Bio by 21.1% in the first quarter. Baupost Group LLC MA now owns 10,443,494 shares of the company’s stock worth $54,933,000 after acquiring an additional 1,820,473 shares during the period. Vanguard Group Inc. lifted its stake in Nuvation Bio by 14.8% during the first quarter. Vanguard Group Inc. now owns 12,932,460 shares of the company’s stock worth $68,025,000 after purchasing an additional 1,671,908 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Nuvation Bio by 387.9% during the first quarter. Goldman Sachs Group Inc. now owns 716,445 shares of the company’s stock worth $3,769,000 after purchasing an additional 569,597 shares in the last quarter. Millennium Management LLC lifted its stake in Nuvation Bio by 760.3% during the second quarter. Millennium Management LLC now owns 472,773 shares of the company’s stock worth $1,532,000 after purchasing an additional 417,816 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Nuvation Bio during the second quarter worth $934,000. 64.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Nuvation Bio news, Director Kathryn E. Falberg purchased 43,000 shares of the business’s stock in a transaction on Monday, December 5th. The shares were bought at an average cost of $1.95 per share, for a total transaction of $83,850.00. Following the completion of the purchase, the director now directly owns 250,000 shares in the company, valued at $487,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nuvation Bio news, Director Kathryn E. Falberg purchased 43,000 shares of the business’s stock in a transaction on Monday, December 5th. The shares were bought at an average cost of $1.95 per share, for a total transaction of $83,850.00. Following the completion of the purchase, the director now directly owns 250,000 shares in the company, valued at $487,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn E. Falberg purchased 47,000 shares of the business’s stock in a transaction on Friday, December 2nd. The stock was acquired at an average price of $1.98 per share, for a total transaction of $93,060.00. Following the completion of the purchase, the director now owns 207,000 shares of the company’s stock, valued at $409,860. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 165,041 shares of company stock worth $315,736. Corporate insiders own 34.75% of the company’s stock.

Nuvation Bio Trading Up 0.4 %

Shares of NYSE NUVB opened at $2.35 on Wednesday. The stock has a market cap of $513.22 million, a P/E ratio of -4.70 and a beta of 0.41. Nuvation Bio Inc. has a 12-month low of $1.59 and a 12-month high of $6.23. The business’s fifty day simple moving average is $1.98 and its 200-day simple moving average is $2.36.

Nuvation Bio (NYSE:NUVBGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. On average, equities analysts forecast that Nuvation Bio Inc. will post -0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut Nuvation Bio from a “buy” rating to a “hold” rating and decreased their price target for the stock from $5.00 to $2.00 in a research note on Friday, January 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Nuvation Bio Profile

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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-422, a small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6. It is also developing NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation; NUV-569, a differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair; NUV-1182, an adenosine receptor inhibitor; and drug-drug conjugate (DDC) platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as PARP inhibitor to address ER+ breast and ovarian cancer.

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Institutional Ownership by Quarter for Nuvation Bio (NYSE:NUVB)

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