Northern Trust Corp Acquires 563,627 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Northern Trust Corp grew its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 37.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,086,751 shares of the company’s stock after purchasing an additional 563,627 shares during the period. Northern Trust Corp owned approximately 0.62% of Nuvation Bio worth $5,551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. LPL Financial LLC raised its position in shares of Nuvation Bio by 27.0% in the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock valued at $83,000 after purchasing an additional 6,673 shares during the period. Invesco Ltd. raised its position in shares of Nuvation Bio by 2.3% in the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company’s stock valued at $879,000 after purchasing an additional 7,344 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Nuvation Bio by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 225,025 shares of the company’s stock valued at $599,000 after purchasing an additional 9,758 shares during the period. Forum Financial Management LP bought a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $29,000. Finally, Cerity Partners LLC bought a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $31,000. Institutional investors own 61.67% of the company’s stock.

Analyst Ratings Changes

NUVB has been the topic of several research reports. Citizens Jmp assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $6.00 price target on the stock. HC Wainwright decreased their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Jones Trading assumed coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They set a “buy” rating and a $10.00 target price on the stock. Citigroup assumed coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They set an “outperform” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a report on Thursday, May 15th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $7.83.

Nuvation Bio Price Performance

NUVB stock opened at $2.16 on Wednesday. Nuvation Bio Inc. has a one year low of $1.54 and a one year high of $3.97. The stock has a market cap of $734.97 million, a PE ratio of -1.00 and a beta of 1.42. The firm has a 50 day simple moving average of $2.00 and a two-hundred day simple moving average of $2.35.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The company had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $0.42 million. On average, research analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dongfang Liu sold 20,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the sale, the insider now owns 12,000 shares of the company’s stock, valued at approximately $30,000. This represents a 62.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Hung acquired 200,000 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $1.66 per share, with a total value of $332,000.00. Following the purchase, the chief executive officer now directly owns 58,481,054 shares in the company, valued at $97,078,549.64. This represents a 0.34% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 29.93% of the company’s stock.

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.