Nuvation Bio Inc. $NUVB Stock Acquired by Profund Advisors LLC

Profund Advisors LLC boosted its stake in Nuvation Bio Inc. (NYSE:NUVB) by 297.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,483 shares of the company’s stock after purchasing an additional 179,994 shares during the quarter. Profund Advisors LLC owned approximately 0.07% of Nuvation Bio worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NUVB. Renaissance Technologies LLC purchased a new stake in shares of Nuvation Bio in the first quarter worth about $2,399,000. Bank of New York Mellon Corp purchased a new position in Nuvation Bio during the second quarter valued at approximately $3,804,000. NewEdge Advisors LLC increased its holdings in Nuvation Bio by 19.5% during the 2nd quarter. NewEdge Advisors LLC now owns 1,231,733 shares of the company’s stock worth $6,996,000 after acquiring an additional 200,621 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Nuvation Bio in the 2nd quarter worth approximately $625,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Nuvation Bio by 75.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,439,357 shares of the company’s stock worth $6,175,000 after purchasing an additional 619,725 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Insider Activity at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.09, for a total transaction of $709,000.00. Following the transaction, the insider directly owned 100,000 shares in the company, valued at approximately $709,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 30.11% of the company’s stock.

Analyst Ratings Changes

NUVB has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Thursday, October 15th. HC Wainwright lifted their price objective on Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of Nuvation Bio in a research report on Wednesday, September 16th. Wall Street Zen lowered Nuvation Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 10th. Finally, JPMorgan Chase & Co. started coverage on Nuvation Bio in a research note on Tuesday, August 18th. They issued an “overweight” rating and a $13.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.22.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $4.61 on Tuesday. The company’s fifty day moving average price is $5.59 and its 200-day moving average price is $5.41. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -10.47 and a beta of 1.61. Nuvation Bio Inc. has a one year low of $3.92 and a one year high of $9.75.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. On average, equities research analysts anticipate that Nuvation Bio Inc. will post -0.34 earnings per share for the current fiscal year.

Nuvation Bio Profile

Nuvation Bio, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with cancer. The company seeks to address areas of significant unmet need, with an emphasis on targeted therapies for solid tumors.

Nuvation Bio’s lead product is taletrectinib, a next-generation tyrosine kinase inhibitor designed for patients with ROS1-positive non-small cell lung cancer (NSCLC), including certain tumors that have developed resistance to earlier ROS1-targeted treatments.