Wellington Management Group LLP Acquires 16,649 Shares of Nuvation Bio Inc. $NUVB

Wellington Management Group LLP boosted its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 692,673 shares of the company’s stock after buying an additional 16,649 shares during the period. Wellington Management Group LLP owned approximately 0.20% of Nuvation Bio worth $1,219,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NUVB. Wealth Enhancement Advisory Services LLC bought a new position in Nuvation Bio in the 4th quarter worth approximately $27,000. Forum Financial Management LP bought a new position in Nuvation Bio in the 4th quarter worth approximately $29,000. Firethorn Wealth Partners LLC bought a new position in Nuvation Bio in the 1st quarter worth approximately $35,000. BNP Paribas Financial Markets bought a new position in Nuvation Bio in the 4th quarter worth approximately $64,000. Finally, Aquatic Capital Management LLC bought a new position in Nuvation Bio in the 4th quarter worth approximately $84,000. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $2.98 on Monday. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $3.45. The firm has a market capitalization of $1.02 billion, a PE ratio of -4.72 and a beta of 1.36. The business’s 50 day moving average is $2.38 and its 200-day moving average is $2.17. The company has a current ratio of 9.39, a quick ratio of 9.38 and a debt-to-equity ratio of 0.13.

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

Wall Street Analyst Weigh In

NUVB has been the topic of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $6.00 price target on shares of Nuvation Bio in a research report on Wednesday, June 25th. Royal Bank Of Canada lifted their price target on Nuvation Bio from $6.00 to $7.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wall Street Zen raised Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $7.33.

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.