Jane Street Group LLC Decreases Stake in Nuvation Bio Inc. (NYSE:NUVB)

Jane Street Group LLC decreased its position in Nuvation Bio Inc. (NYSE:NUVB) by 71.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,039 shares of the company’s stock after selling 213,290 shares during the quarter. Jane Street Group LLC’s holdings in Nuvation Bio were worth $192,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Nuvation Bio by 83.3% in the 3rd quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock worth $1,429,000 after purchasing an additional 283,642 shares in the last quarter. Wexford Capital LP lifted its stake in shares of Nuvation Bio by 930.2% during the 3rd quarter. Wexford Capital LP now owns 651,767 shares of the company’s stock worth $1,493,000 after acquiring an additional 588,500 shares during the last quarter. State Street Corp boosted its stake in shares of Nuvation Bio by 4.8% during the third quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares during the period. Point72 Asset Management L.P. bought a new position in Nuvation Bio in the 3rd quarter worth about $634,000. Finally, Walleye Capital LLC grew its stake in Nuvation Bio by 97.2% in the third quarter. Walleye Capital LLC now owns 195,131 shares of the company’s stock worth $447,000 after purchasing an additional 96,184 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NUVB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Nuvation Bio in a research note on Monday, January 6th. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, January 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $7.40.

Nuvation Bio Stock Down 7.3 %

NYSE:NUVB opened at $2.79 on Monday. The stock has a market capitalization of $939.02 million, a price-to-earnings ratio of -1.29 and a beta of 1.47. Nuvation Bio Inc. has a 52 week low of $1.43 and a 52 week high of $4.16. The stock’s fifty day moving average is $2.76 and its two-hundred day moving average is $2.82.

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 analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. On average, sell-side analysts expect 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.