SG Americas Securities LLC Lowers Position in Nuvation Bio Inc. (NYSE:NUVB)

SG Americas Securities LLC decreased its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 27.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 79,604 shares of the company’s stock after selling 30,622 shares during the period. SG Americas Securities LLC’s holdings in Nuvation Bio were worth $120,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Centiva Capital LP purchased a new stake in Nuvation Bio during the fourth quarter valued at $26,000. Clarius Group LLC purchased a new stake in shares of Nuvation Bio in the third quarter valued at $26,000. Royal Bank of Canada raised its stake in shares of Nuvation Bio by 133.4% in the second quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock valued at $27,000 after acquiring an additional 8,687 shares during the period. Virtu Financial LLC purchased a new stake in shares of Nuvation Bio in the fourth quarter valued at $31,000. Finally, ProShare Advisors LLC raised its stake in shares of Nuvation Bio by 38.3% in the second quarter. ProShare Advisors LLC now owns 18,946 shares of the company’s stock valued at $34,000 after acquiring an additional 5,246 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Analysts Set New Price Targets

NUVB has been the topic of several recent analyst reports. HC Wainwright increased their target price on shares of Nuvation Bio from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Royal Bank of Canada upped their price target on shares of Nuvation Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a report on Wednesday. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Friday, March 1st. Jefferies Financial Group upgraded shares of Nuvation Bio from a “hold” rating to a “buy” rating and upped their price target for the stock from $1.40 to $10.00 in a report on Wednesday, March 27th. Finally, BTIG Research upgraded shares of Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Tuesday, March 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock opened at $2.57 on Friday. The firm’s 50-day moving average is $2.47 and its two-hundred day moving average is $1.76. Nuvation Bio Inc. has a 1 year low of $0.95 and a 1 year high of $4.16. The stock has a market cap of $560.39 million, a price-to-earnings ratio of -7.56 and a beta of 1.37.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. On average, equities analysts expect that Nuvation Bio Inc. will post -0.35 earnings per share 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.