Assenagon Asset Management S.A. Reduces Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Assenagon Asset Management S.A. decreased its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 81.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,015 shares of the company’s stock after selling 105,348 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Nuvation Bio were worth $42,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Firethorn Wealth Partners LLC acquired a new position in Nuvation Bio in the first quarter valued at approximately $35,000. Wellington Management Group LLP grew its holdings in Nuvation Bio by 8.3% in the 4th quarter. Wellington Management Group LLP now owns 676,024 shares of the company’s stock valued at $1,798,000 after buying an additional 52,051 shares in the last quarter. California State Teachers Retirement System grew its holdings in Nuvation Bio by 40.1% in the 4th quarter. California State Teachers Retirement System now owns 200,380 shares of the company’s stock valued at $533,000 after buying an additional 57,310 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Nuvation Bio in the 4th quarter valued at $27,000. Finally, Forum Financial Management LP purchased a new stake in Nuvation Bio in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Insider Activity at Nuvation Bio

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 transaction, the insider now directly owns 12,000 shares in the company, valued at approximately $30,000. This represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Hung bought 300,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was purchased at an average price of $1.62 per share, with a total value of $486,000.00. Following the completion of the purchase, the chief executive officer now directly owns 58,781,054 shares of the company’s stock, valued at approximately $95,225,307.48. This trade represents a 0.51% increase in their position. The disclosure for this purchase can be found here. 29.93% of the stock is owned by insiders.

Nuvation Bio Trading Up 9.2%

NYSE:NUVB opened at $1.96 on Friday. The firm has a 50-day moving average price of $2.15 and a two-hundred day moving average price of $2.26. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97. The company has a market capitalization of $665.21 million, a P/E ratio of -0.83 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) EPS for the quarter, hitting 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 business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. On average, equities research analysts predict that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several recent analyst reports. Citizens Jmp initiated coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $6.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a research note on Monday, June 2nd. Royal Bank Of Canada upgraded shares of Nuvation Bio from an “outperform” rating to a “moderate buy” rating and lowered their target price for the company from $10.00 to $6.00 in a report on Tuesday. Jones Trading started 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. Finally, Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 11th. One research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.17.

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.