Algert Global LLC Acquires 314,635 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Algert Global LLC lifted its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 281.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 426,603 shares of the company’s stock after acquiring an additional 314,635 shares during the period. Algert Global LLC owned 0.17% of Nuvation Bio worth $1,246,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of Nuvation Bio by 58.7% in the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after acquiring an additional 9,603 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after acquiring an additional 10,000 shares during the last quarter. Xponance Inc. bought a new position in shares of Nuvation Bio in the 2nd quarter valued at about $33,000. Caxton Associates LP bought a new position in shares of Nuvation Bio in the 2nd quarter valued at about $43,000. Finally, Choreo LLC bought a new stake in Nuvation Bio in the second quarter worth about $47,000. Institutional investors own 61.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NUVB shares. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Wednesday, September 11th. HC Wainwright decreased their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.40.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $2.41 on Friday. The firm has a market cap of $594.45 million, a PE ratio of -7.76 and a beta of 1.36. The firm’s 50 day simple moving average is $2.93 and its 200-day simple moving average is $3.01. Nuvation Bio Inc. has a one year low of $0.95 and a one year high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. Equities research analysts predict that Nuvation Bio Inc. will post -0.4 EPS 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.