American Century Companies Inc. Grows Position in Nuvation Bio Inc. $NUVB

American Century Companies Inc. increased its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 18.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 486,535 shares of the company’s stock after buying an additional 75,362 shares during the quarter. American Century Companies Inc. owned about 0.14% of Nuvation Bio worth $856,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Nuvation Bio during the 4th quarter worth approximately $27,000. Forum Financial Management LP purchased a new position in Nuvation Bio during the 4th quarter worth approximately $29,000. Firethorn Wealth Partners LLC purchased a new position in Nuvation Bio during the 1st quarter worth approximately $35,000. BNP Paribas Financial Markets purchased a new position in Nuvation Bio during the 4th quarter worth approximately $64,000. Finally, XTX Topco Ltd grew its stake in Nuvation Bio by 424.9% during the 1st quarter. XTX Topco Ltd now owns 55,564 shares of the company’s stock worth $98,000 after buying an additional 44,979 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NUVB. Royal Bank Of Canada increased their price objective 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 research report on Sunday, August 17th. JMP Securities reaffirmed a “market outperform” rating and set a $6.00 price objective on shares of Nuvation Bio in a research report on Wednesday, June 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, Nuvation Bio has a consensus rating of “Buy” and a consensus target price of $7.33.

Nuvation Bio Stock Up 8.7%

NUVB opened at $3.43 on Friday. 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 business has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $2.20. The stock has a market capitalization of $1.17 billion, a P/E ratio of -5.44 and a beta of 1.36. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $3.48.

Nuvation Bio (NYSE:NUVB) last posted 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 during the quarter, compared to analysts’ expectations of $0.42 million. Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%. On average, equities analysts anticipate that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

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.