ProShare Advisors LLC Acquires 16,801 Shares of Nuvation Bio Inc. (NYSE:NUVB)

ProShare Advisors LLC raised its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 49.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,060 shares of the company’s stock after purchasing an additional 16,801 shares during the period. ProShare Advisors LLC’s holdings in Nuvation Bio were worth $136,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its position in shares of Nuvation Bio by 54.9% in the fourth quarter. FMR LLC now owns 45,285,572 shares of the company’s stock worth $120,460,000 after purchasing an additional 16,046,701 shares during the period. Vanguard Group Inc. grew its stake in Nuvation Bio by 45.4% during the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock worth $41,849,000 after buying an additional 4,913,820 shares in the last quarter. Geode Capital Management LLC grew its stake in Nuvation Bio by 22.9% during the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock worth $13,174,000 after buying an additional 922,503 shares in the last quarter. MPM Bioimpact LLC bought a new position in Nuvation Bio in the 4th quarter valued at about $11,077,000. Finally, Millennium Management LLC raised its position in shares of Nuvation Bio by 82.7% in the 4th quarter. Millennium Management LLC now owns 2,475,872 shares of the company’s stock valued at $6,586,000 after buying an additional 1,120,874 shares in the last quarter. Institutional investors own 61.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NUVB shares. HC Wainwright cut their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 10th. Citigroup initiated coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They set an “outperform” rating for the company. Citizens Jmp started coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $6.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Thursday, May 15th. Finally, Jones Trading began coverage on Nuvation Bio in a research 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.83.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, CEO David Hung bought 300,000 shares of the stock in a transaction on Monday, April 7th. The shares were acquired at an average price of $1.62 per share, with a total value of $486,000.00. Following the acquisition, the chief executive officer now directly owns 58,781,054 shares of the company’s stock, valued at $95,225,307.48. The trade was a 0.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the sale, the insider now owns 12,000 shares in the company, valued at $30,000. This represents a 62.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.93% of the stock is owned by insiders.

Nuvation Bio Trading Up 10.1%

Shares of NUVB opened at $2.34 on Tuesday. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $3.97. The firm’s fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $2.32. The stock has a market capitalization of $794.51 million, a P/E ratio of -1.08 and a beta of 1.42.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. As a group, research analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

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.