AQR Capital Management LLC Raises Stock Holdings in Nuvation Bio Inc. (NYSE:NUVB)

AQR Capital Management LLC raised its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 508.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,583 shares of the company’s stock after acquiring an additional 93,233 shares during the period. AQR Capital Management LLC’s holdings in Nuvation Bio were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Nuvation Bio by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after purchasing an additional 219,533 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Nuvation Bio by 81.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after purchasing an additional 528,660 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Nuvation Bio by 551.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after purchasing an additional 1,146,794 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nuvation Bio by 415.2% during the 2nd 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 last quarter. Finally, Panagora Asset Management Inc. grew its position in Nuvation Bio by 198.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock valued at $1,850,000 after acquiring an additional 421,563 shares during the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Trading Up 10.3 %

Shares of Nuvation Bio stock opened at $2.57 on Thursday. The firm has a market cap of $635.23 million, a P/E ratio of -8.29 and a beta of 1.36. Nuvation Bio Inc. has a 12 month low of $0.95 and a 12 month high of $4.16. The stock’s fifty day moving average price is $2.73 and its 200-day moving average price is $2.98.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million during the quarter. Analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on NUVB. HC Wainwright cut their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.40.

Insider Activity at Nuvation Bio

In related news, Director Robert Mashal acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $220,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 36.09% of the stock is owned by corporate insiders.

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.