Nuvation Bio Inc. (NYSE:NUVB) Stock Position Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 39.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,945,983 shares of the company’s stock after buying an additional 551,968 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.58% of Nuvation Bio worth $5,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Frazier Life Sciences Management L.P. acquired a new position in Nuvation Bio during the third quarter worth about $2,790,000. Wexford Capital LP boosted its position 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 valued at $1,493,000 after purchasing an additional 588,500 shares in the last quarter. FMR LLC grew its stake in shares of Nuvation Bio by 1.4% in the 3rd quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after purchasing an additional 416,932 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Nuvation Bio in the 4th quarter worth approximately $1,042,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Nuvation Bio by 479.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock worth $1,014,000 after purchasing an additional 366,429 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors.

Nuvation Bio Trading Down 1.0 %

Shares of Nuvation Bio stock opened at $1.94 on Wednesday. Nuvation Bio Inc. has a 1 year low of $1.71 and a 1 year high of $4.16. The company has a market cap of $657.04 million, a P/E ratio of -0.89 and a beta of 1.47. The stock has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.50.

Analysts Set New Price Targets

NUVB has been the topic of several recent research reports. Jones Trading assumed coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Monday, March 3rd. Finally, HC Wainwright cut their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $8.33.

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.