Federated Hermes Inc. Sells 7,643 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Federated Hermes Inc. lowered its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 359,671 shares of the company’s stock after selling 7,643 shares during the quarter. Federated Hermes Inc.’s holdings in Nuvation Bio were worth $543,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in shares of Nuvation Bio by 219.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 738,831 shares of the company’s stock valued at $1,116,000 after acquiring an additional 507,452 shares during the period. Hsbc Holdings PLC grew its holdings in Nuvation Bio by 56.1% during the third quarter. Hsbc Holdings PLC now owns 174,827 shares of the company’s stock valued at $238,000 after purchasing an additional 62,844 shares during the period. SG Americas Securities LLC increased its position in Nuvation Bio by 921.4% in the third quarter. SG Americas Securities LLC now owns 110,226 shares of the company’s stock worth $148,000 after buying an additional 99,434 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Nuvation Bio by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after buying an additional 27,346 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Nuvation Bio by 100.0% during the 3rd quarter. TD Asset Management Inc now owns 105,600 shares of the company’s stock worth $142,000 after acquiring an additional 52,800 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Trading Down 1.5 %

Shares of NUVB opened at $3.22 on Friday. Nuvation Bio Inc. has a 12-month low of $0.95 and a 12-month high of $4.16. The company has a market cap of $702.12 million, a PE ratio of -9.65 and a beta of 1.42. The stock has a 50-day moving average price of $2.69 and a 200-day moving average price of $1.87.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. As a group, analysts predict that Nuvation Bio Inc. will post -0.35 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on NUVB. Jefferies Financial Group upgraded Nuvation Bio from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1.40 to $10.00 in a research note on Wednesday, March 27th. 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 research note on Tuesday, March 26th. Royal Bank of Canada lifted their price objective on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. HC Wainwright increased their target price on Nuvation Bio from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Friday, March 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.60.

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.