Nuvation Bio Inc. (NYSE:NUVB) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Nuvation Bio Inc. (NYSE:NUVB) by 415.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,018,329 shares of the company’s stock after acquiring an additional 820,669 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.41% of Nuvation Bio worth $2,975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Nuvation Bio by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after purchasing an additional 219,533 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Nuvation Bio by 551.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after acquiring an additional 1,146,794 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Nuvation Bio by 81.9% in the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after purchasing an additional 528,660 shares during the period. Octagon Capital Advisors LP acquired a new position in Nuvation Bio during the fourth quarter worth approximately $1,510,000. Finally, Jacobs Levy Equity Management Inc. raised its stake 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 worth $2,726,000 after purchasing an additional 537,314 shares during the period. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Nuvation Bio Price Performance

Shares of NYSE NUVB opened at $2.00 on Friday. Nuvation Bio Inc. has a 1-year low of $0.95 and a 1-year high of $4.16. The company has a market capitalization of $494.34 million, a price-to-earnings ratio of -6.45 and a beta of 1.36. The business has a 50-day moving average of $2.79 and a 200-day moving average of $3.01.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million during the quarter. Research analysts expect that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other news, Director Robert Mashal purchased 100,000 shares of the stock in a transaction dated Tuesday, October 8th. The shares were bought at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the transaction, the director now owns 100,000 shares in the company, valued at $220,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 36.09% of the stock is currently owned by company insiders.

Nuvation Bio Company 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.