Invesco Ltd. Buys 7,344 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Invesco Ltd. raised its stake in Nuvation Bio Inc. (NYSE:NUVB) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,388 shares of the company’s stock after purchasing an additional 7,344 shares during the period. Invesco Ltd. owned approximately 0.10% of Nuvation Bio worth $879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its holdings in Nuvation Bio by 54.9% during the 4th quarter. FMR LLC now owns 45,285,572 shares of the company’s stock valued at $120,460,000 after purchasing an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Nuvation Bio by 45.4% in the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock valued at $41,849,000 after buying an additional 4,913,820 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Nuvation Bio by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock valued at $13,174,000 after buying an additional 922,503 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nuvation Bio by 39.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company’s stock worth $5,176,000 after buying an additional 551,968 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Nuvation Bio by 8.3% during the 4th quarter. Wellington Management Group LLP now owns 676,024 shares of the company’s stock worth $1,798,000 after acquiring an additional 52,051 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, CEO David Hung purchased 300,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was acquired at an average cost of $1.62 per share, for a total transaction of $486,000.00. Following the completion of the transaction, the chief executive officer now directly owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This represents a 0.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 29.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, March 27th. Citizens Jmp began coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 target price for the company. Citigroup began coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued an “outperform” rating for the company. Finally, Jones Trading started coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They set a “buy” rating and a $10.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Buy” and an average price target of $7.83.

Nuvation Bio Stock Performance

Shares of NYSE NUVB opened at $2.28 on Friday. The stock has a market cap of $770.49 million, a price-to-earnings ratio of -1.05 and a beta of 1.47. Nuvation Bio Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $3.97. The firm’s 50-day simple moving average is $1.95 and its 200 day simple moving average is $2.37.

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.