David Hung Buys 300,000 Shares of Nuvation Bio Inc. (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) CEO David Hung acquired 300,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $1.62 per share, for a total transaction of $486,000.00. Following the purchase, the chief executive officer now directly owns 58,781,054 shares of the company's stock, valued at $95,225,307.48. This represents a 0.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

David Hung also recently made the following trade(s):

• On Friday, April 4th, David Hung acquired 200,000 shares of Nuvation Bio stock. The stock was acquired at an average cost of $1.66 per share, with a total value of $332,000.00.

Nuvation Bio Trading Up 14.6 %

NYSE:NUVB traded up $0.26 during mid-day trading on Friday, hitting $2.01. The stock had a trading volume of 4,184,304 shares, compared to its average volume of 2,036,168. The company has a 50 day simple moving average of $2.01 and a 200-day simple moving average of $2.39. The stock has a market capitalization of $679.05 million, a price-to-earnings ratio of -0.92 and a beta of 1.47. Nuvation Bio Inc. has a 52 week low of $1.54 and a 52 week high of $3.97.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. HC Wainwright cut their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Jones Trading began coverage on Nuvation Bio in a report on Wednesday, March 12th. They set a "buy" rating and a $10.00 target price for the company. Finally, Wedbush reissued an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Thursday, March 27th.

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Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in Nuvation Bio by 54.9% in the 4th quarter. FMR LLC now owns 45,285,572 shares of the company's stock worth $120,460,000 after buying an additional 16,046,701 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Nuvation Bio by 45.4% in the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock worth $41,849,000 after purchasing an additional 4,913,820 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nuvation Bio by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock worth $13,174,000 after purchasing an additional 922,503 shares in the last quarter. State Street Corp increased its holdings in shares of Nuvation Bio by 4.8% during the third quarter. State Street Corp now owns 4,166,441 shares of the company's stock valued at $9,541,000 after purchasing an additional 191,031 shares during the period. Finally, MPM Bioimpact LLC bought a new stake in shares of Nuvation Bio during the fourth quarter valued at about $11,077,000. Institutional investors own 61.67% of the company's stock.

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.