Nuvation Bio Inc. (NYSE:NUVB) Stake Increased by State Street Corp

State Street Corp grew its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 4.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,166,441 shares of the company's stock after purchasing an additional 191,031 shares during the period. State Street Corp owned 1.67% of Nuvation Bio worth $9,541,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake 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 buying an additional 820,669 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Nuvation Bio during the third quarter worth about $634,000. FMR LLC lifted 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 valued at $66,957,000 after purchasing an additional 416,932 shares during the last quarter. Panagora Asset Management Inc. lifted 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 valued at $1,850,000 after purchasing an additional 421,563 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Nuvation Bio by 281.0% during the 2nd quarter. Algert Global LLC now owns 426,603 shares of the company's stock valued at $1,246,000 after purchasing an additional 314,635 shares during the period. 61.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on NUVB shares. HC Wainwright dropped their price target on shares of Nuvation Bio from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada raised their target price on Nuvation Bio from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Wedbush reiterated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio currently has an average rating of "Buy" and a consensus price target of $6.60.

Nuvation Bio Price Performance

Shares of NYSE NUVB traded down $0.06 during mid-day trading on Friday, reaching $2.76. 1,318,293 shares of the company traded hands, compared to its average volume of 1,603,204. Nuvation Bio Inc. has a fifty-two week low of $1.43 and a fifty-two week high of $4.16. The firm has a market cap of $928.92 million, a PE ratio of -1.27 and a beta of 1.46. The stock has a fifty day simple moving average of $2.66 and a 200-day simple moving average of $2.83.

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

Insiders Place Their Bets

In related news, Director Robert Mashal acquired 100,000 shares of the business's stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the transaction, the director now owns 100,000 shares of the company's stock, valued at approximately $220,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.07% of the stock is owned by company insiders.

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.