UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 8,670 Shares of Nuvation Bio Inc. (NYSE:NUVB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 225,619 shares of the company’s stock after selling 8,670 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.09% of Nuvation Bio worth $517,000 at the end of the most recent quarter.

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

Nuvation Bio Stock Down 0.4 %

NUVB stock opened at $2.68 on Friday. The business has a 50 day moving average price of $2.62 and a 200 day moving average price of $2.83. The stock has a market cap of $902.00 million, a price-to-earnings ratio of -1.24 and a beta of 1.46. Nuvation Bio Inc. has a fifty-two week low of $1.43 and a fifty-two week high of $4.16.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.73 million for the quarter. As a group, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright cut their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio presently has an average rating of “Buy” and a consensus price target of $6.60.

Insider Transactions at Nuvation Bio

In other news, Director Robert Mashal acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $220,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.07% of the company’s stock.

About Nuvation Bio

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.