MPM Bioimpact LLC Purchases Shares of 4,164,178 Nuvation Bio Inc. (NYSE:NUVB)

MPM Bioimpact LLC purchased a new position in Nuvation Bio Inc. (NYSE:NUVB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,164,178 shares of the company's stock, valued at approximately $11,077,000. MPM Bioimpact LLC owned approximately 1.24% of Nuvation Bio as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nuvation Bio by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company's stock valued at $276,000 after acquiring an additional 5,693 shares during the period. LPL Financial LLC increased 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 purchasing an additional 6,673 shares in the last quarter. Invesco Ltd. increased 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 purchasing an additional 7,344 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Nuvation Bio by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 225,025 shares of the company's stock valued at $599,000 after buying an additional 9,758 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in Nuvation Bio in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock traded up $0.08 during trading hours on Monday, hitting $2.34. The company's stock had a trading volume of 1,251,744 shares, compared to its average volume of 2,827,070. The firm has a fifty day moving average of $2.00 and a 200-day moving average of $2.36. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97. The stock has a market cap of $790.82 million, a price-to-earnings ratio of -1.08 and a beta of 1.42.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting 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. On average, sell-side analysts expect that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Nuvation Bio

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

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.