Quantinno Capital Management LP Raises Stake in Nuvation Bio Inc. $NUVB

Quantinno Capital Management LP grew its stake in Nuvation Bio Inc. (NYSE:NUVB) by 238.8% in the first quarter, Holdings Channel reports. The fund owned 139,257 shares of the company’s stock after purchasing an additional 98,158 shares during the period. Quantinno Capital Management LP’s holdings in Nuvation Bio were worth $597,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nuvation Bio by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after acquiring an additional 4,608 shares during the last quarter. Millennium Management LLC increased its position in Nuvation Bio by 52.4% during the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Nuvation Bio during the second quarter worth about $92,000. Creative Planning raised its stake in Nuvation Bio by 267.1% during the second quarter. Creative Planning now owns 39,288 shares of the company’s stock worth $77,000 after purchasing an additional 28,585 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Nuvation Bio during the second quarter worth about $29,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research raised shares of Nuvation Bio from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Truist Financial lifted their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. started coverage on Nuvation Bio in a report on Tuesday. They issued an “overweight” rating and a $13.00 price objective on the stock. Royal Bank Of Canada increased their price objective on Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Wednesday, June 10th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Nuvation Bio Price Performance

NUVB stock opened at $7.25 on Thursday. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $2.54 billion, a PE ratio of -16.47 and a beta of 1.52. Nuvation Bio Inc. has a 12-month low of $2.57 and a 12-month high of $9.75. The business’s fifty day moving average price is $6.03 and its 200 day moving average price is $5.29.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Nuvation Bio had a negative return on equity of 46.59% and a negative net margin of 88.18%.The firm had revenue of $31.69 million for the quarter, compared to analyst estimates of $27.03 million. On average, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling at Nuvation Bio

In other news, CFO Philippe Sauvage sold 47,668 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.01, for a total value of $286,484.68. Following the completion of the transaction, the chief financial officer owned 12,673 shares of the company’s stock, valued at approximately $76,164.73. This trade represents a 79.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $4.73 per share, with a total value of $118,250.00. Following the acquisition, the director directly owned 225,000 shares of the company’s stock, valued at approximately $1,064,250. This represents a 12.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 235,668 shares of company stock worth $1,419,495 over the last ninety days. Company insiders own 30.11% of the company’s stock.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.