Nuvation Bio Inc. (NYSE:NUVB) Stock Position Raised by State Street Corp

State Street Corp increased its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,166,441 shares of the company’s stock after acquiring an additional 191,031 shares during the quarter. State Street Corp owned 1.67% of Nuvation Bio worth $9,541,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Nuvation Bio during the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in Nuvation Bio by 913.2% during the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after purchasing an additional 10,000 shares during the last quarter. Xponance Inc. bought a new position in Nuvation Bio in the 2nd quarter worth $33,000. Caxton Associates LP bought a new stake in Nuvation Bio during the second quarter valued at about $43,000. Finally, Choreo LLC acquired a new stake in shares of Nuvation Bio in the second quarter valued at about $47,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $2.82 on Friday. The company has a market capitalization of $949.12 million, a PE ratio of -1.30 and a beta of 1.46. Nuvation Bio Inc. has a 52 week low of $1.43 and a 52 week high of $4.16. The company has a 50 day moving average price of $2.65 and a two-hundred day moving average price of $2.83.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $0.73 million during the quarter. On average, sell-side analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price target on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. HC Wainwright lowered their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio has an average rating of “Buy” and a consensus target price of $6.60.

Insiders Place Their Bets

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