JPMorgan Chase & Co. Increases Position in Nuvation Bio Inc. (NYSE:NUVB)

JPMorgan Chase & Co. boosted its holdings in shares of Nuvation Bio Inc. (NYSE:NUVBFree Report) by 479.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 442,913 shares of the company’s stock after purchasing an additional 366,429 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.13% of Nuvation Bio worth $1,014,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Nuvation Bio by 4.8% during the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after buying an additional 191,031 shares in the last quarter. Wellington Management Group LLP raised its position in Nuvation Bio by 83.3% during the third quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock worth $1,429,000 after acquiring an additional 283,642 shares during the period. Geode Capital Management LLC lifted its holdings in Nuvation Bio by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after purchasing an additional 196,247 shares in the last quarter. 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 during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Nuvation Bio during the third quarter worth about $634,000. 61.67% of the stock is owned by institutional investors and hedge funds.

Nuvation Bio Price Performance

NUVB opened at $2.52 on Friday. The firm has a market capitalization of $846.47 million, a price-to-earnings ratio of -1.16 and a beta of 1.47. The company’s 50 day simple moving average is $2.74 and its two-hundred day simple moving average is $2.79. Nuvation Bio Inc. has a 1-year low of $1.52 and a 1-year high of $4.16.

Nuvation Bio (NYSE:NUVBGet Free Report) last announced 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 company had revenue of $0.73 million during the quarter. On average, equities analysts anticipate that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NUVB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. HC Wainwright lifted their price target on Nuvation Bio from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $8.20.

Get Our Latest Stock Report on Nuvation Bio

About Nuvation Bio

(Free Report)

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.

Read More

Want to see what other hedge funds are holding NUVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nuvation Bio Inc. (NYSE:NUVBFree Report).

Institutional Ownership by Quarter for Nuvation Bio (NYSE:NUVB)

Receive News & Ratings for Nuvation Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuvation Bio and related companies with MarketBeat.com's FREE daily email newsletter.