Geode Capital Management LLC Purchases 922,503 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Geode Capital Management LLC raised its position in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,951,195 shares of the company's stock after buying an additional 922,503 shares during the period. Geode Capital Management LLC owned about 1.47% of Nuvation Bio worth $13,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NUVB. Vanguard Group Inc. lifted its position in shares of Nuvation Bio by 45.4% during 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. State Street Corp raised its position in Nuvation Bio by 4.8% in 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Nuvation Bio by 39.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company's stock worth $5,176,000 after buying an additional 551,968 shares in the last quarter. Wellington Management Group LLP boosted its position in Nuvation Bio by 8.3% in the 4th quarter. Wellington Management Group LLP now owns 676,024 shares of the company's stock valued at $1,798,000 after buying an additional 52,051 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Nuvation Bio by 2.8% in the 4th 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. Institutional investors own 61.67% of the company's stock.

Insider Buying and Selling at Nuvation Bio

In related news, CEO David Hung acquired 200,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $1.66 per share, for a total transaction of $332,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 58,481,054 shares in the company, valued at approximately $97,078,549.64. The trade was a 0.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NUVB shares. Citigroup assumed coverage on Nuvation Bio in a report on Wednesday. They issued an "outperform" rating on the stock. Jones Trading assumed coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They set a "buy" rating and a $10.00 price target for the company. Wedbush restated an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, Citizens Jmp initiated coverage on Nuvation Bio in a research note on Wednesday. They issued a "mkt outperform" rating and a $6.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $7.83.

Nuvation Bio Price Performance

Shares of NYSE NUVB traded down $0.03 during midday trading on Friday, reaching $2.11. 1,115,371 shares of the stock were exchanged, compared to its average volume of 2,096,100. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $3.97. The business has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $2.37. The company has a market capitalization of $712.92 million, a price-to-earnings ratio of -0.97 and a beta of 1.47.

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.