Charles Schwab Investment Management Inc. Has $5.18 Million Stake in Nuvation Bio Inc. (NYSE:NUVB)

Charles Schwab Investment Management Inc. raised its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 39.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,945,983 shares of the company's stock after buying an additional 551,968 shares during the period. Charles Schwab Investment Management Inc. owned 0.58% of Nuvation Bio worth $5,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NUVB. FMR LLC grew its stake in Nuvation Bio by 1.4% in the 3rd quarter. FMR LLC now owns 29,238,871 shares of the company's stock valued at $66,957,000 after buying an additional 416,932 shares during the last quarter. State Street Corp boosted its holdings in shares of Nuvation Bio by 4.8% during the third quarter. State Street Corp now owns 4,166,441 shares of the company's stock worth $9,541,000 after acquiring an additional 191,031 shares during the period. Geode Capital Management LLC grew its position 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 valued at $9,227,000 after purchasing an additional 196,247 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Nuvation Bio during the third quarter worth approximately $2,790,000. Finally, Wexford Capital LP grew its stake in Nuvation Bio by 930.2% during the third quarter. Wexford Capital LP now owns 651,767 shares of the company's stock worth $1,493,000 after buying an additional 588,500 shares in the last quarter. 61.67% of the stock is owned by institutional investors.

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Nuvation Bio Stock Performance

Shares of NUVB traded down $0.06 during mid-day trading on Friday, reaching $1.82. 1,431,289 shares of the company were exchanged, compared to its average volume of 1,942,415. The business has a 50 day simple moving average of $2.19 and a two-hundred day simple moving average of $2.48. Nuvation Bio Inc. has a 52 week low of $1.71 and a 52 week high of $3.97. The stock has a market capitalization of $614.70 million, a PE ratio of -0.84 and a beta of 1.47.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NUVB. HC Wainwright dropped their price objective on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Wedbush reaffirmed an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a report on Thursday. Jones Trading initiated coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th.

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.