Frazier Life Sciences Management L.P. Acquires New Position in Nuvation Bio Inc. (NYSE:NUVB)

Frazier Life Sciences Management L.P. acquired a new stake in Nuvation Bio Inc. (NYSE:NUVB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,218,236 shares of the company's stock, valued at approximately $2,790,000. Frazier Life Sciences Management L.P. owned approximately 0.49% of Nuvation Bio as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. FMR LLC increased its holdings in Nuvation Bio by 1.4% during the 3rd quarter. FMR LLC now owns 29,238,871 shares of the company's stock worth $66,957,000 after purchasing an additional 416,932 shares in the last quarter. State Street Corp increased its holdings in Nuvation Bio by 4.8% during the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company's stock worth $9,541,000 after purchasing an additional 191,031 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Nuvation Bio by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company's stock worth $3,192,000 after purchasing an additional 60,590 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Nuvation Bio by 415.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company's stock worth $2,975,000 after purchasing an additional 820,669 shares in the last quarter. Finally, Wexford Capital LP increased its holdings in Nuvation Bio by 930.2% during the 3rd quarter. Wexford Capital LP now owns 651,767 shares of the company's stock worth $1,493,000 after purchasing an additional 588,500 shares in the last quarter. Institutional investors own 61.67% of the company's stock.

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal purchased 100,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $220,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.07% of the company's stock.

Wall Street Analyst Weigh In

NUVB has been the subject of a number of recent research reports. Wedbush restated an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, HC Wainwright cut their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $6.60.

Nuvation Bio Stock Performance

NYSE:NUVB traded down $0.10 during mid-day trading on Tuesday, hitting $2.70. The stock had a trading volume of 2,156,570 shares, compared to its average volume of 1,552,801. Nuvation Bio Inc. has a twelve month low of $1.28 and a twelve month high of $4.16. The stock has a market cap of $908.73 million, a price-to-earnings ratio of -1.24 and a beta of 1.46. The company's 50 day simple moving average is $2.55 and its 200 day simple moving average is $2.85.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. As a group, equities analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

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.