Arrowstreet Capital Limited Partnership Has $6.17 Million Stake in Nuvation Bio Inc. $NUVB

Arrowstreet Capital Limited Partnership increased its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 75.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,439,357 shares of the company's stock after buying an additional 619,725 shares during the period. Arrowstreet Capital Limited Partnership owned 0.41% of Nuvation Bio worth $6,175,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Rangeley Capital LLC acquired a new stake in shares of Nuvation Bio during the second quarter worth $25,000. Parallel Advisors LLC lifted its stake in Nuvation Bio by 51.9% in the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company's stock valued at $28,000 after buying an additional 2,597 shares during the period. Cetera Investment Advisers bought a new position in Nuvation Bio during the second quarter worth about $29,000. Captrust Financial Advisors bought a new position in Nuvation Bio during the second quarter worth about $32,000. Finally, KBC Group NV acquired a new position in shares of Nuvation Bio during the 1st quarter worth about $37,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Price Performance

Shares of NYSE NUVB opened at $6.33 on Monday. The company has a fifty day moving average price of $5.60 and a 200 day moving average price of $5.23. The firm has a market cap of $2.20 billion, a PE ratio of -14.71 and a beta of 1.52. The company has a current ratio of 7.44, a quick ratio of 7.24 and a debt-to-equity ratio of 0.15. Nuvation Bio Inc. has a 1-year low of $2.18 and a 1-year high of $9.75.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. The firm had revenue of $83.23 million for the quarter, compared to the consensus estimate of $66.22 million. Nuvation Bio had a negative return on equity of 44.10% and a negative net margin of 102.06%. Research analysts predict that Nuvation Bio Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In other news, insider Stacy Markel sold 125,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $6.03, for a total transaction of $753,750.00. Following the completion of the transaction, the insider directly owned 32,591 shares of the company's stock, valued at $196,523.73. This trade represents a 79.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal acquired 25,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $4.73 per share, for a total transaction of $118,250.00. Following the completion of the acquisition, the director directly owned 225,000 shares of the company's stock, valued at $1,064,250. The trade was a 12.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 235,668 shares of company stock worth $1,419,495. 30.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nuvation Bio in a research note on Friday, July 17th. Royal Bank Of Canada reissued an "outperform" rating on shares of Nuvation Bio in a research report on Wednesday, July 22nd. Zacks Research raised shares of Nuvation Bio from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Truist Financial upped their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Finally, Wedbush restated an "outperform" rating and issued a $11.00 price objective on shares of Nuvation Bio in a research report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.88.

Nuvation Bio Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company's pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.

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