Vanguard Group Inc. Acquires 4,913,820 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Vanguard Group Inc. boosted its position in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 45.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,732,567 shares of the company's stock after buying an additional 4,913,820 shares during the quarter. Vanguard Group Inc. owned approximately 4.67% of Nuvation Bio worth $41,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NUVB. Charles Schwab Investment Management Inc. boosted its stake in shares of Nuvation Bio by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company's stock valued at $3,192,000 after purchasing an additional 60,590 shares in the last quarter. State Street Corp lifted its stake in Nuvation Bio by 4.8% in the third 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. 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 buying an additional 283,642 shares during the period. XTX Topco Ltd bought a new position in shares of Nuvation Bio during the third quarter valued at about $302,000. Finally, Geode Capital Management LLC increased its holdings in shares of Nuvation Bio by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company's stock worth $9,227,000 after buying an additional 196,247 shares during the period. 61.67% of the stock is currently owned by institutional investors.

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Nuvation Bio Stock Down 7.9 %

Shares of NUVB traded down $0.16 during mid-day trading on Wednesday, hitting $1.86. 2,377,968 shares of the company's stock traded hands, compared to its average volume of 2,778,888. The firm has a market capitalization of $629.94 million, a P/E ratio of -0.86 and a beta of 1.47. The business's 50-day moving average price is $2.00 and its 200-day moving average price is $2.38. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $3.97.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO David Hung bought 200,000 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $1.66 per share, with a total value of $332,000.00. Following the transaction, the chief executive officer now owns 58,481,054 shares of the company's stock, valued at approximately $97,078,549.64. The trade was a 0.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.07% of the company's stock.

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.