Dimensional Fund Advisors LP Sells 432,720 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Dimensional Fund Advisors LP trimmed its stake in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,227,152 shares of the company's stock after selling 432,720 shares during the quarter. Dimensional Fund Advisors LP owned about 0.36% of Nuvation Bio worth $3,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUVB. JPMorgan Chase & Co. boosted its position in Nuvation Bio by 479.1% during the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company's stock worth $1,014,000 after purchasing an additional 366,429 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Nuvation Bio during the fourth quarter worth $1,042,000. Palumbo Wealth Management LLC lifted its holdings in shares of Nuvation Bio by 297.4% during the fourth quarter. Palumbo Wealth Management LLC now owns 65,360 shares of the company's stock worth $174,000 after buying an additional 48,914 shares in the last quarter. Abacus Planning Group Inc. acquired a new stake in shares of Nuvation Bio during the fourth quarter worth $44,000. Finally, Ieq Capital LLC acquired a new stake in shares of Nuvation Bio during the fourth quarter worth $98,000. 61.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citizens Jmp assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 target price for the company. Wedbush reissued an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a report on Thursday. Jones Trading assumed coverage on Nuvation Bio in a report on Wednesday, March 12th. They set a "buy" rating and a $10.00 target price for the company. Citigroup assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set an "outperform" rating for the company. Finally, HC Wainwright dropped their target price on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, March 10th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Nuvation Bio currently has an average rating of "Buy" and a consensus target price of $7.83.

Nuvation Bio Price Performance

NUVB stock traded up $0.04 during midday trading on Monday, reaching $2.30. The company had a trading volume of 3,190,968 shares, compared to its average volume of 2,220,341. The company has a market capitalization of $782.60 million, a price-to-earnings ratio of -1.06 and a beta of 1.42. The stock has a 50 day moving average price of $2.01 and a 200-day moving average price of $2.36. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $3.97.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting analysts' consensus estimates of ($0.16). The company had revenue of $3.08 million during the quarter, compared to analyst estimates of $0.42 million. As a group, research analysts anticipate that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling at Nuvation Bio

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

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.