Acadian Asset Management LLC Has $1.91 Million Position in Nuvation Bio Inc. (NYSE:NUVB)

Acadian Asset Management LLC lessened its stake in Nuvation Bio Inc. (NYSE:NUVB) by 44.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 653,184 shares of the company’s stock after selling 521,280 shares during the period. Acadian Asset Management LLC owned about 0.26% of Nuvation Bio worth $1,906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in Nuvation Bio by 551.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after purchasing an additional 1,146,794 shares during the period. Octagon Capital Advisors LP bought a new position in Nuvation Bio during the fourth quarter worth $1,510,000. Jacobs Levy Equity Management Inc. boosted its position in Nuvation Bio by 254.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after acquiring an additional 537,314 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Nuvation Bio by 198.7% during the second quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock worth $1,850,000 after purchasing an additional 421,563 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Nuvation Bio by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after acquiring an additional 219,533 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Wall Street Analysts Forecast Growth

NUVB has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Nuvation Bio in a research note on Wednesday, July 17th. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Trading Down 0.3 %

Shares of Nuvation Bio stock opened at $3.05 on Friday. The stock has a fifty day simple moving average of $3.13 and a 200 day simple moving average of $2.98. Nuvation Bio Inc. has a 12-month low of $0.95 and a 12-month high of $4.16. The company has a market capitalization of $760.18 million, a P/E ratio of -9.84 and a beta of 1.38.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. On average, analysts predict that Nuvation Bio Inc. will post -0.33 EPS for the current year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Xiangmin Cui bought 336,874 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average price of $2.98 per share, for a total transaction of $1,003,884.52. Following the purchase, the director now directly owns 2,175,236 shares of the company’s stock, valued at $6,482,203.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 36.09% of the company’s stock.

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.