JPMorgan Chase & Co. Purchases 557,656 Shares of Nuvation Bio Inc. $NUVB

JPMorgan Chase & Co. grew its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 472.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,600 shares of the company’s stock after purchasing an additional 557,656 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of Nuvation Bio worth $2,500,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nuvation Bio by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after buying an additional 4,608 shares during the period. Millennium Management LLC raised its holdings in shares of Nuvation Bio by 52.4% in the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after acquiring an additional 1,298,131 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Nuvation Bio during the 2nd quarter valued at about $92,000. Creative Planning grew its holdings in shares of Nuvation Bio by 267.1% during the second quarter. Creative Planning now owns 39,288 shares of the company’s stock worth $77,000 after purchasing an additional 28,585 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Nuvation Bio during the second quarter worth about $29,000. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Up 0.8%

Shares of NUVB opened at $4.45 on Monday. The firm has a market cap of $1.55 billion, a P/E ratio of -7.41 and a beta of 1.60. The stock has a 50 day simple moving average of $5.06 and a two-hundred day simple moving average of $5.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.95 and a quick ratio of 6.81. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $9.75.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $41.87 million for the quarter, compared to the consensus estimate of $36.82 million. Nuvation Bio had a negative net margin of 325.31% and a negative return on equity of 57.48%. On average, analysts forecast that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

NUVB has been the topic of a number of recent analyst reports. Truist Financial set a $13.00 target price on shares of Nuvation Bio in a research note on Tuesday, January 27th. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a report on Thursday. HC Wainwright lowered their price objective on shares of Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. UBS Group dropped their price objective on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.63.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.