Brighton Jones LLC Acquires New Stake in Nuvation Bio Inc. $NUVB

Brighton Jones LLC acquired a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 61,661 shares of the company’s stock, valued at approximately $120,000.

Other large investors also recently bought and sold shares of the company. Exome Asset Management LLC purchased a new stake in shares of Nuvation Bio during the first quarter valued at $170,000. American Century Companies Inc. boosted its stake in shares of Nuvation Bio by 18.3% during the first quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock valued at $856,000 after purchasing an additional 75,362 shares during the period. AWM Investment Company Inc. purchased a new stake in shares of Nuvation Bio during the first quarter valued at $1,144,000. Hsbc Holdings PLC boosted its position in Nuvation Bio by 32.4% in the 1st quarter. Hsbc Holdings PLC now owns 189,659 shares of the company’s stock valued at $326,000 after buying an additional 46,436 shares during the period. Finally, MPM Bioimpact LLC boosted its position in Nuvation Bio by 11.7% in the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company’s stock valued at $8,188,000 after buying an additional 488,065 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Insider Activity

In other news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.93% of the stock is currently owned by insiders.

Nuvation Bio Trading Up 1.3%

Shares of NYSE NUVB opened at $5.22 on Friday. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $5.55. The business has a fifty day moving average price of $3.63 and a 200 day moving average price of $2.72. 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 stock has a market capitalization of $1.78 billion, a P/E ratio of -8.28 and a beta of 1.48.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The company 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%. Equities research analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Nuvation Bio in a report on Friday, September 19th. Wall Street Zen upgraded Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Royal Bank Of Canada upped their target price on Nuvation Bio from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of Nuvation Bio in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.86.

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.