MPM Bioimpact LLC Purchases New Position in Nuvation Bio Inc. (NYSE:NUVB)

MPM Bioimpact LLC acquired a new stake in Nuvation Bio Inc. (NYSE:NUVB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,164,178 shares of the company's stock, valued at approximately $11,077,000. MPM Bioimpact LLC owned about 1.24% of Nuvation Bio at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Nuvation Bio by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company's stock worth $276,000 after acquiring an additional 5,693 shares in the last quarter. LPL Financial LLC lifted its position in shares of Nuvation Bio by 27.0% during the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company's stock worth $83,000 after acquiring an additional 6,673 shares in the last quarter. Invesco Ltd. lifted its position in shares of Nuvation Bio by 2.3% during the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company's stock worth $879,000 after acquiring an additional 7,344 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Nuvation Bio by 4.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 225,025 shares of the company's stock worth $599,000 after acquiring an additional 9,758 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in shares of Nuvation Bio during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 61.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NUVB. Wedbush restated an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Thursday. Citizens Jmp started coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price target on the stock. HC Wainwright decreased their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Citigroup started coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued an "outperform" rating on the stock. Finally, Jones Trading started coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nuvation Bio has an average rating of "Buy" and an average target price of $7.83.

Nuvation Bio Stock Performance

NUVB traded up $0.02 during trading on Friday, reaching $2.26. The stock had a trading volume of 1,804,302 shares, compared to its average volume of 2,210,793. The stock has a market cap of $763.72 million, a PE ratio of -1.04 and a beta of 1.42. Nuvation Bio Inc. has a one year low of $1.54 and a one year high of $3.97. The business has a 50-day moving average of $2.00 and a 200-day moving average of $2.35.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.16). The firm had revenue of $3.08 million for the quarter, compared to analysts' expectations of $0.42 million. Equities research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the transaction, the insider now owns 12,000 shares of the company's stock, valued at approximately $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Hung bought 300,000 shares of the firm's stock in a transaction on Monday, April 7th. The shares were acquired at an average cost of $1.62 per share, with a total value of $486,000.00. Following the purchase, the chief executive officer now directly owns 58,781,054 shares of the company's stock, valued at approximately $95,225,307.48. This represents a 0.51% increase in their position. The disclosure for this purchase can be found here. 29.93% of the stock is currently owned by company insiders.

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.