Wealth Enhancement Advisory Services LLC Buys Shares of 10,140 Nuvation Bio Inc. (NYSE:NUVB)

Wealth Enhancement Advisory Services LLC bought a new stake in Nuvation Bio Inc. (NYSE:NUVB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,140 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors also recently bought and sold shares of NUVB. Abacus Planning Group Inc. acquired a new stake in shares of Nuvation Bio during the fourth quarter worth $44,000. Ieq Capital LLC acquired a new stake in shares of Nuvation Bio during the fourth quarter worth $98,000. Bank of New York Mellon Corp lifted its stake in shares of Nuvation Bio by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company’s stock worth $1,379,000 after buying an additional 14,203 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Nuvation Bio by 39.6% during the fourth 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 during the period. Finally, Arizona State Retirement System lifted its stake in shares of Nuvation Bio by 47.2% during the fourth quarter. Arizona State Retirement System now owns 62,964 shares of the company’s stock worth $167,000 after buying an additional 20,176 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nuvation Bio

In other news, insider Dongfang Liu sold 20,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were 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 of the company’s stock, valued at $30,000. The trade was a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Hung bought 200,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were bought 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 of the company’s stock, valued at approximately $97,078,549.64. This represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. 29.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Nuvation Bio from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. 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 objective for the company. Royal Bank Of Canada upgraded shares of Nuvation Bio from an “outperform” rating to a “moderate buy” rating and lowered their price objective for the stock from $10.00 to $6.00 in a research note on Tuesday. HC Wainwright decreased their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Finally, Citigroup assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.17.

Nuvation Bio Price Performance

NYSE NUVB opened at $1.79 on Thursday. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $3.97. The company has a fifty day moving average of $2.15 and a 200 day moving average of $2.28. The company has a market capitalization of $607.36 million, a PE ratio of -0.76 and a beta of 1.37.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). Nuvation Bio had a negative net margin of 5,534.21% and a negative return on equity of 44.14%. The company had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $0.42 million. Research analysts expect that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.

About Nuvation Bio

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.