California State Teachers Retirement System Has $533,000 Position in Nuvation Bio Inc. (NYSE:NUVB)

California State Teachers Retirement System increased its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 40.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,380 shares of the company’s stock after purchasing an additional 57,310 shares during the period. California State Teachers Retirement System owned approximately 0.06% of Nuvation Bio worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted 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 worth $120,460,000 after purchasing an additional 16,046,701 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Nuvation Bio by 45.4% during the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock worth $41,849,000 after purchasing an additional 4,913,820 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Nuvation Bio by 22.9% during the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock worth $13,174,000 after purchasing an additional 922,503 shares during the last quarter. MPM Bioimpact LLC acquired a new stake in Nuvation Bio during the 4th quarter worth approximately $11,077,000. Finally, Millennium Management LLC lifted its holdings in Nuvation Bio by 82.7% during the 4th quarter. Millennium Management LLC now owns 2,475,872 shares of the company’s stock worth $6,586,000 after purchasing an additional 1,120,874 shares during the last quarter. 61.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Dongfang Liu sold 20,000 shares of the business’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 sale, the insider now owns 12,000 shares in the company, valued at $30,000. The trade was a 62.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Hung acquired 200,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the transaction, the chief executive officer now directly owns 58,481,054 shares in the company, valued at $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 29.93% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NUVB opened at $2.20 on Thursday. Nuvation Bio Inc. has a 52-week low of $1.54 and a 52-week high of $3.97. The business’s fifty day moving average is $2.15 and its 200-day moving average is $2.32. The firm has a market cap of $748.58 million, a price-to-earnings ratio of -1.01 and a beta of 1.37.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting 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, research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

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.