AMI Asset Management Corp Takes $1.13 Million Position in Nuvation Bio Inc. $NUVB

AMI Asset Management Corp acquired a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 126,472 shares of the company’s stock, valued at approximately $1,133,000.

Other institutional investors have also recently made changes to their positions in the company. Armistice Capital LLC lifted its holdings in shares of Nuvation Bio by 359.2% in the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock valued at $8,495,000 after acquiring an additional 1,796,000 shares during the last quarter. Capricorn Fund Managers Ltd bought a new stake in Nuvation Bio in the fourth quarter worth about $14,236,000. Millennium Management LLC lifted its stake in Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the last quarter. Two Sigma Investments LP lifted its stake in Nuvation Bio by 95.7% in the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock worth $8,797,000 after purchasing an additional 1,162,837 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in Nuvation Bio in the third quarter worth about $3,535,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $4.68 on Tuesday. The company’s 50 day moving average is $4.95 and its 200 day moving average is $5.81. The company has a quick ratio of 6.81, a current ratio of 6.95 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a 52-week low of $1.57 and a 52-week high of $9.75. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -7.79 and a beta of 1.60.

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

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Kerry Wentworth sold 200,000 shares of Nuvation Bio stock in a transaction on Monday, April 6th. The shares were sold at an average price of $4.52, for a total value of $904,000.00. Following the transaction, the insider directly owned 53,000 shares of the company’s stock, valued at approximately $239,560. The trade was a 79.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 29.93% of the company’s stock.

Analysts Set New Price Targets

NUVB has been the subject of several analyst reports. HC Wainwright decreased their price objective on shares of Nuvation Bio from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Royal Bank Of Canada raised their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a research note on Thursday, April 2nd. Truist Financial set a $13.00 price objective on shares of Nuvation Bio in a research note on Tuesday, January 27th. Finally, UBS Group decreased their price objective on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nuvation Bio has an average rating of “Moderate Buy” and a consensus target price of $11.63.

About Nuvation Bio

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.