JPMorgan Chase & Co. Grows Stock Holdings in Nuvation Bio Inc. (NYSE:NUVB)

JPMorgan Chase & Co. raised its position in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 479.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 442,913 shares of the company's stock after purchasing an additional 366,429 shares during the period. JPMorgan Chase & Co. owned about 0.13% of Nuvation Bio worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Nuvation Bio by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company's stock worth $9,227,000 after purchasing an additional 196,247 shares during the period. Frazier Life Sciences Management L.P. bought a new stake in Nuvation Bio during the 3rd quarter valued at $2,790,000. XTX Topco Ltd purchased a new position in shares of Nuvation Bio in the 3rd quarter valued at $302,000. Zacks Investment Management raised its position in shares of Nuvation Bio by 21.5% in the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company's stock worth $83,000 after acquiring an additional 6,394 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Nuvation Bio by 83.3% during the third quarter. Wellington Management Group LLP now owns 623,973 shares of the company's stock valued at $1,429,000 after purchasing an additional 283,642 shares in the last quarter. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUVB has been the subject of several analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Wedbush reiterated an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Monday, January 6th. Finally, HC Wainwright increased their price objective on shares of Nuvation Bio from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio presently has a consensus rating of "Buy" and an average target price of $8.20.

Nuvation Bio Stock Down 9.2 %

Nuvation Bio stock traded down $0.26 during midday trading on Friday, hitting $2.52. 2,097,541 shares of the company were exchanged, compared to its average volume of 2,398,260. The business has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $2.79. Nuvation Bio Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $4.16.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $0.73 million for the quarter. As a group, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.36 earnings per share 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.