Nuvation Bio Inc. (NYSE:NUVB) Stake Lowered by Two Sigma Advisers LP

Two Sigma Advisers LP cut its stake in Nuvation Bio Inc. (NYSE:NUVB) by 10.8% during the fourth quarter, HoldingsChannel reports. The fund owned 476,400 shares of the company’s stock after selling 57,500 shares during the quarter. Two Sigma Advisers LP’s holdings in Nuvation Bio were worth $1,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Forum Financial Management LP purchased a new position in Nuvation Bio in the fourth quarter valued at about $29,000. Cerity Partners LLC bought a new stake in shares of Nuvation Bio in the 4th quarter valued at approximately $31,000. Russell Investments Group Ltd. increased its holdings in Nuvation Bio by 15,183.7% in the fourth quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after buying an additional 15,791 shares during the last quarter. Abacus Planning Group Inc. acquired a new position in Nuvation Bio in the fourth quarter worth approximately $44,000. Finally, Cibc World Markets Corp bought a new position in Nuvation Bio during the fourth quarter valued at approximately $45,000. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nuvation Bio

In other news, CEO David Hung acquired 200,000 shares of Nuvation Bio stock in a transaction on Friday, April 4th. The stock was bought at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the transaction, the chief executive officer now owns 58,481,054 shares of the company’s stock, valued at $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total value of $50,000.00. Following the sale, the insider now directly owns 12,000 shares in the company, valued at $30,000. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 29.93% of the company’s stock.

Nuvation Bio Stock Down 6.2%

Shares of NYSE:NUVB opened at $2.12 on Friday. The company has a market cap of $721.36 million, a price-to-earnings ratio of -0.98 and a beta of 1.42. The business has a 50 day moving average price of $2.04 and a 200 day moving average price of $2.33. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. Analysts anticipate that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on NUVB shares. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Thursday, May 15th. Citizens Jmp started coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 price target for the company. Jones Trading began coverage on Nuvation Bio in a research report on Wednesday, March 12th. They set a “buy” rating and a $10.00 target price for the company. JMP Securities assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set a “market outperform” rating and a $6.00 price target on the stock. Finally, Citigroup initiated coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They issued an “outperform” rating for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $7.83.

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.