Federated Hermes Inc. Sells 349,503 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Federated Hermes Inc. lowered its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 95.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,439 shares of the company's stock after selling 349,503 shares during the quarter. Federated Hermes Inc.'s holdings in Nuvation Bio were worth $49,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NUVB. LPL Financial LLC increased its stake in shares of Nuvation Bio by 27.0% during the 4th quarter. LPL Financial LLC now owns 31,348 shares of the company's stock worth $83,000 after purchasing an additional 6,673 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Nuvation Bio by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company's stock valued at $1,379,000 after buying an additional 14,203 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Nuvation Bio by 15,183.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock valued at $42,000 after buying an additional 15,791 shares during the period. Abacus Planning Group Inc. bought a new stake in shares of Nuvation Bio in the fourth quarter valued at $44,000. Finally, Cibc World Markets Corp purchased a new position in shares of Nuvation Bio in the fourth quarter valued at $45,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Nuvation Bio news, CEO David Hung purchased 200,000 shares of the company's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $1.66 per share, for a total transaction of $332,000.00. Following the purchase, the chief executive officer now directly owns 58,481,054 shares of the company's stock, valued at $97,078,549.64. This trade represents a 0.34 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.07% of the stock is currently owned by insiders.

Nuvation Bio Trading Up 0.7 %

Nuvation Bio stock traded up $0.02 during midday trading on Thursday, hitting $2.10. The stock had a trading volume of 518,458 shares, compared to its average volume of 2,089,894. The firm's fifty day moving average is $1.96 and its two-hundred day moving average is $2.37. The company has a market capitalization of $709.53 million, a PE ratio of -0.96 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NUVB shares. Jones Trading started coverage on Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price target for the company. JMP Securities started coverage on Nuvation Bio in a research report on Wednesday. They set a "market outperform" rating and a $6.00 price target for the company. HC Wainwright dropped their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Citizens Jmp started coverage on Nuvation Bio in a research report on Wednesday. They issued a "mkt outperform" rating and a $6.00 target price for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nuvation Bio presently has an average rating of "Buy" and an average price target of $7.83.

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.