Assenagon Asset Management S.A. Reduces Stock Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Assenagon Asset Management S.A. lessened its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 70.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 institutional investors have also recently added to or reduced their stakes in NUVB. Zacks Investment Management raised its stake in Nuvation Bio by 21.5% during the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company's stock valued at $83,000 after acquiring an additional 6,394 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 10,000 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Nuvation Bio during the second quarter worth approximately $29,000. Xponance Inc. acquired a new stake in shares of Nuvation Bio during the second quarter worth $33,000. Finally, Caxton Associates LP purchased a new position in Nuvation Bio in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 61.67% of the company's stock.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $10.00 target price (up previously 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 objective on shares of Nuvation Bio in a research report on Monday, January 6th. Finally, HC Wainwright raised their target price on Nuvation Bio from $10.00 to $11.00 and gave the company a "buy" rating in a report on Thursday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $8.20.

Nuvation Bio Stock Down 9.2 %

NUVB stock traded down $0.26 during midday trading on Friday, hitting $2.52. The stock had a trading volume of 2,097,541 shares, compared to its average volume of 2,398,260. The company's 50-day moving average price is $2.74 and its 200 day moving average price is $2.79. Nuvation Bio Inc. has a 12-month low of $1.52 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. As a group, sell-side analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Nuvation Bio Company Profile

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.