Dimensional Fund Advisors LP Cuts Position in Nuvation Bio Inc. (NYSE:NUVB)

Dimensional Fund Advisors LP decreased its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 26.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. LPL Financial LLC increased its position in shares of Nuvation Bio by 27.0% in the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company's stock valued at $83,000 after buying an additional 6,673 shares in the last quarter. Invesco Ltd. increased its position in shares of Nuvation Bio by 2.3% in the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company's stock valued at $879,000 after buying an additional 7,344 shares in the last quarter. Forum Financial Management LP purchased a new position in shares of Nuvation Bio in the fourth quarter valued at $29,000. Cerity Partners LLC purchased a new position in shares of Nuvation Bio in the fourth quarter valued at $31,000. Finally, Bank of New York Mellon Corp increased its position in shares of Nuvation Bio by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company's stock valued at $1,379,000 after buying an additional 14,203 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NUVB shares. Wedbush restated an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, March 27th. JMP Securities started coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They issued a "market outperform" rating and a $6.00 price target for the company. HC Wainwright dropped their price target on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Citizens Jmp initiated coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price objective for the company. Finally, Citigroup assumed coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued an "outperform" rating on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $7.83.

Nuvation Bio Trading Up 1.9%

NYSE:NUVB opened at $2.19 on Wednesday. The firm has a market cap of $741.71 million, a price-to-earnings ratio of -1.01 and a beta of 1.42. The company's 50-day moving average is $2.00 and its two-hundred day moving average is $2.36. Nuvation Bio Inc. has a 12-month low of $1.54 and a 12-month 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 the consensus estimate of ($0.16). The business had revenue of $3.08 million during the quarter, compared to analysts' expectations of $0.42 million. On average, equities research analysts forecast that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

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

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