Verition Fund Management LLC Sells 13,409 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Verition Fund Management LLC trimmed its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 50.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,375 shares of the company’s stock after selling 13,409 shares during the period. Verition Fund Management LLC’s holdings in Nuvation Bio were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Nuvation Bio by 415.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Nuvation Bio by 198.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock valued at $1,850,000 after buying an additional 421,563 shares in the last quarter. FMR LLC increased its position in shares of Nuvation Bio by 1.4% during the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock valued at $66,957,000 after buying an additional 416,932 shares during the period. Algert Global LLC lifted its holdings in shares of Nuvation Bio by 281.0% in the second quarter. Algert Global LLC now owns 426,603 shares of the company’s stock worth $1,246,000 after buying an additional 314,635 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Nuvation Bio by 33.6% in the second quarter. Bank of New York Mellon Corp now owns 626,905 shares of the company’s stock valued at $1,831,000 after acquiring an additional 157,511 shares during the period. 61.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NUVB. Royal Bank of Canada increased their target price on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. HC Wainwright dropped their price objective on 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, Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Stock Performance

NYSE NUVB opened at $2.82 on Wednesday. The company has a market capitalization of $947.44 million, a P/E ratio of -1.30 and a beta of 1.46. Nuvation Bio Inc. has a 52-week low of $1.37 and a 52-week high of $4.16. The company has a fifty day moving average of $2.59 and a 200-day moving average of $2.84.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. As a group, analysts forecast that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Mashal purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were acquired at an average cost of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 5.07% of the stock is owned by 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.