Algert Global LLC Grows Stake in Nuvation Bio Inc. (NYSE:NUVB)

Algert Global LLC raised its stake in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 281.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 426,603 shares of the company's stock after buying an additional 314,635 shares during the quarter. Algert Global LLC owned about 0.17% of Nuvation Bio worth $1,246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Nuvation Bio by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company's stock worth $27,424,000 after buying an additional 219,533 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Nuvation Bio by 81.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company's stock valued at $4,273,000 after acquiring an additional 528,660 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company's stock worth $4,932,000 after purchasing an additional 1,146,794 shares in the last quarter. Octagon Capital Advisors LP bought a new position in shares of Nuvation Bio in the fourth quarter worth approximately $1,510,000. Finally, Panagora Asset Management Inc. raised its stake in Nuvation Bio by 198.7% in the second 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 in the last quarter. 61.67% of the stock is currently owned by institutional investors.

Nuvation Bio Stock Up 3.0 %

Shares of NUVB traded up $0.07 during mid-day trading on Friday, hitting $2.41. 852,548 shares of the company's stock traded hands, compared to its average volume of 1,415,874. The firm has a market capitalization of $595.68 million, a P/E ratio of -7.77 and a beta of 1.36. The business's 50-day moving average price is $2.91 and its 200-day moving average price is $3.01. Nuvation Bio Inc. has a 1 year low of $0.95 and a 1 year high of $4.16.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.09). The business had revenue of $1.44 million during the quarter. Sell-side analysts anticipate that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NUVB. Wedbush restated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Wednesday, September 11th. HC Wainwright decreased their price objective on Nuvation Bio from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $6.40.

Nuvation Bio 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.