Assenagon Asset Management S.A. Sells 309,176 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Assenagon Asset Management S.A. lessened its stake in Nuvation Bio Inc. (NYSE:NUVB) by 70.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,363 shares of the company’s stock after selling 309,176 shares during the period. Assenagon Asset Management S.A.’s holdings in Nuvation Bio were worth $344,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NUVB. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio during the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its holdings in Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after buying an additional 10,000 shares during the period. Xponance Inc. bought a new position in shares of Nuvation Bio in the 2nd quarter worth $33,000. Caxton Associates LP bought a new position in Nuvation Bio during the 2nd quarter worth approximately $43,000. Finally, Profund Advisors LLC acquired a new position in Nuvation Bio in the second quarter valued at about $63,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Stock Down 9.2 %

Nuvation Bio stock opened at $2.52 on Friday. The stock has a market cap of $846.47 million, a PE ratio of -1.16 and a beta of 1.47. Nuvation Bio Inc. has a 12-month low of $1.52 and a 12-month high of $4.16. The business’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $2.79.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Wednesday, November 6th. The company reported ($0.15) 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 expect that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NUVB has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, HC Wainwright lifted their price target on Nuvation Bio from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.20.

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.