UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $925,000 Holdings in Nuvation Bio Inc. (NYSE:NUVB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Nuvation Bio Inc. (NYSE:NUVB) by 54.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 347,806 shares of the company’s stock after buying an additional 122,187 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of Nuvation Bio worth $925,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NUVB. Peapod Lane Capital LLC purchased a new stake in Nuvation Bio in the 4th quarter valued at about $1,042,000. Palumbo Wealth Management LLC increased its stake in Nuvation Bio by 297.4% in the 4th quarter. Palumbo Wealth Management LLC now owns 65,360 shares of the company’s stock valued at $174,000 after buying an additional 48,914 shares during the last quarter. Abacus Planning Group Inc. purchased a new stake in Nuvation Bio in the 4th quarter valued at about $44,000. Ieq Capital LLC purchased a new stake in Nuvation Bio in the 4th quarter valued at about $98,000. Finally, Bank of New York Mellon Corp increased its stake in Nuvation Bio by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company’s stock valued at $1,379,000 after buying an additional 14,203 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NUVB shares. Citigroup assumed coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They issued an “outperform” rating for the company. JMP Securities restated a “market outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a research note on Monday, June 2nd. Jones Trading assumed coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They set a “buy” rating and a $10.00 price target for the company. Citizens Jmp assumed coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $7.83.

Insider Buying and Selling

In other news, CEO David Hung purchased 300,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $1.62 per share, with a total value of $486,000.00. Following the completion of the acquisition, the chief executive officer now owns 58,781,054 shares in the company, valued at $95,225,307.48. This trade represents a 0.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 12,000 shares in the company, valued at approximately $30,000. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. 29.93% of the stock is owned by insiders.

Nuvation Bio Stock Up 0.6%

Shares of NUVB stock opened at $2.53 on Wednesday. The company has a 50 day moving average of $2.13 and a 200-day moving average of $2.32. The firm has a market cap of $859.16 million, a P/E ratio of -1.16 and a beta of 1.37. Nuvation Bio Inc. has a 12-month low of $1.54 and a 12-month high of $3.97.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. As a group, equities analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current 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.