Teacher Retirement System of Texas Increases Stock Position in Nuvation Bio Inc. (NYSE:NUVB)

Teacher Retirement System of Texas grew its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 73.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,502 shares of the company’s stock after purchasing an additional 27,231 shares during the period. Teacher Retirement System of Texas’ holdings in Nuvation Bio were worth $172,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Zacks Investment Management boosted its holdings in Nuvation Bio by 21.5% in the third quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after purchasing an additional 6,394 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Nuvation Bio by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company’s stock valued at $1,379,000 after acquiring an additional 14,203 shares during the period. Abacus Planning Group Inc. purchased a new stake in Nuvation Bio in the 4th quarter worth approximately $44,000. Cibc World Markets Corp purchased a new position in shares of Nuvation Bio during the 4th quarter valued at $45,000. Finally, Arizona State Retirement System grew its position in shares of Nuvation Bio by 47.2% during the fourth quarter. Arizona State Retirement System now owns 62,964 shares of the company’s stock worth $167,000 after purchasing an additional 20,176 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Price Performance

NUVB stock opened at $1.78 on Thursday. Nuvation Bio Inc. has a 1-year low of $1.66 and a 1-year high of $3.97. The business has a 50-day moving average price of $2.14 and a 200 day moving average price of $2.45. The company has a market capitalization of $601.16 million, a P/E ratio of -0.82 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NUVB shares. Jones Trading started coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. HC Wainwright decreased their price target on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, March 27th.

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.