Nuvation Bio Inc. (NYSE:NUVB) Shares Acquired by Fmr LLC

Fmr LLC lifted its position in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 54.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,285,572 shares of the company's stock after acquiring an additional 16,046,701 shares during the period. Fmr LLC owned 13.46% of Nuvation Bio worth $120,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 valued at $41,849,000 after purchasing an additional 4,913,820 shares during the period. Geode Capital Management LLC boosted its position in Nuvation Bio by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock valued at $13,174,000 after buying an additional 922,503 shares during the last quarter. State Street Corp increased its holdings 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 buying an additional 191,031 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Nuvation Bio by 8.3% during the 4th quarter. Wellington Management Group LLP now owns 676,024 shares of the company's stock valued at $1,798,000 after acquiring an additional 52,051 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.

Insider Activity

In related news, CEO David Hung acquired 300,000 shares of the firm's stock in a transaction on Monday, April 7th. The shares were acquired at an average cost of $1.62 per share, with a total value of $486,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This trade represents a 0.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.07% of the company's stock.

Nuvation Bio Stock Up 1.8 %

Shares of Nuvation Bio stock opened at $2.03 on Tuesday. The firm has a market cap of $685.82 million, a PE ratio of -0.93 and a beta of 1.47. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97. The business has a 50-day moving average price of $2.00 and a 200 day moving average price of $2.38.

Wall Street Analysts Forecast Growth

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

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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.

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