Vanguard Group Inc. Cuts Position in Nuvation Bio Inc. $NUVB

Vanguard Group Inc. cut its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,397,820 shares of the company’s stock after selling 334,747 shares during the period. Vanguard Group Inc. owned 4.55% of Nuvation Bio worth $27,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nuvation Bio by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company’s stock valued at $276,000 after buying an additional 5,693 shares during the period. Two Sigma Investments LP boosted its stake in Nuvation Bio by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company’s stock valued at $3,062,000 after acquiring an additional 5,925 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Nuvation Bio by 11.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 60,951 shares of the company’s stock valued at $107,000 after purchasing an additional 6,403 shares in the last quarter. LPL Financial LLC increased its stake in Nuvation Bio by 27.0% during the 4th quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock valued at $83,000 after purchasing an additional 6,673 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Nuvation Bio by 2.3% during the 4th quarter. Invesco Ltd. now owns 330,388 shares of the company’s stock valued at $879,000 after acquiring an additional 7,344 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

NYSE:NUVB opened at $2.95 on Thursday. The firm’s fifty day moving average price is $2.34 and its 200 day moving average price is $2.17. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $3.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.39 and a quick ratio of 9.38. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -4.67 and a beta of 1.35.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. The firm had revenue of $4.83 million for the quarter, compared to analyst estimates of $0.42 million. On average, sell-side analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NUVB shares. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 11th. Royal Bank Of Canada increased their price target on Nuvation Bio from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Wall Street Zen raised Nuvation Bio from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, JMP Securities restated a “market outperform” rating and set a $6.00 price target on shares of Nuvation Bio in a research note on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.33.

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.