Wellington Management Group LLP Purchases 283,642 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Wellington Management Group LLP boosted its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 83.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 623,973 shares of the company's stock after acquiring an additional 283,642 shares during the quarter. Wellington Management Group LLP owned 0.25% of Nuvation Bio worth $1,429,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NUVB. Dimensional Fund Advisors LP boosted 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 acquiring an additional 820,669 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Nuvation Bio during the third quarter worth about $634,000. FMR LLC grew its position in Nuvation Bio by 1.4% in 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. Panagora Asset Management Inc. grew its position in Nuvation Bio by 198.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company's stock worth $1,850,000 after purchasing an additional 421,563 shares in the last quarter. Finally, Algert Global LLC increased its stake in Nuvation Bio by 281.0% in the 2nd quarter. Algert Global LLC now owns 426,603 shares of the company's stock valued at $1,246,000 after buying an additional 314,635 shares during the last quarter. Institutional investors own 61.67% of the company's stock.

Insider Activity

In related news, Director Robert Mashal acquired 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at $220,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.07% of the company's stock.

Analyst Ratings Changes

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

Nuvation Bio Price Performance

Shares of NUVB traded down $0.01 during mid-day trading on Friday, hitting $2.68. The stock had a trading volume of 9,241,831 shares, compared to its average volume of 1,604,938. Nuvation Bio Inc. has a 52 week low of $1.43 and a 52 week high of $4.16. The business has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.83. The firm has a market cap of $902.00 million, a P/E ratio of -1.24 and a beta of 1.46.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. As a group, research analysts expect that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal 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.