Dimensional Fund Advisors LP Boosts Position in Nuvation Bio Inc. (NYSE:NUVB)

Dimensional Fund Advisors LP increased its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 415.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,018,329 shares of the company's stock after buying an additional 820,669 shares during the period. Dimensional Fund Advisors LP owned 0.41% of Nuvation Bio worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Choreo LLC acquired a new position in Nuvation Bio in the 2nd quarter valued at $47,000. Susquehanna Fundamental Investments LLC acquired a new position in Nuvation Bio in the first quarter valued at about $79,000. Principal Financial Group Inc. lifted its position in Nuvation Bio by 58.7% during the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company's stock worth $76,000 after purchasing an additional 9,603 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in Nuvation Bio during the first quarter worth about $105,000. Finally, WINTON GROUP Ltd bought a new position in Nuvation Bio in the second quarter valued at approximately $89,000. 61.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NUVB shares. Wedbush reaffirmed an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a report on Wednesday, September 11th. HC Wainwright cut 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 restated an "outperform" rating and set a $5.00 price target on shares of Nuvation Bio in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $6.40.

Insiders Place Their Bets

In related news, Director Robert Mashal purchased 100,000 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at approximately $220,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.07% of the company's stock.

Nuvation Bio Stock Performance

Shares of NYSE NUVB traded up $0.26 during midday trading on Friday, reaching $2.27. The stock had a trading volume of 3,118,104 shares, compared to its average volume of 1,432,056. Nuvation Bio Inc. has a twelve month low of $0.95 and a twelve month high of $4.16. The company's 50 day moving average price is $2.79 and its 200 day moving average price is $3.01. The firm has a market cap of $565.77 million, a price-to-earnings ratio of -1.06 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly 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. Equities analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal year.

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.