AWM Investment Company Inc. Acquires New Holdings in Nuvation Bio Inc. $NUVB

Key Points

• AWM Investment Company Inc. has invested approximately $1.14 million in Nuvation Bio Inc., purchasing 650,000 shares.
• Several other institutional investors also acquired stakes in Nuvation Bio, with institutional ownership now at 61.67%.
• Nuvation Bio's earnings report indicated a $0.17 loss per share with significant revenue of $4.83 million, beating expectations.

AWM Investment Company Inc. purchased a new stake in Nuvation Bio Inc. (NYSE:NUVB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 650,000 shares of the company's stock, valued at approximately $1,144,000. AWM Investment Company Inc. owned approximately 0.19% of Nuvation Bio as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Nuvation Bio in the fourth quarter valued at about $27,000. Forum Financial Management LP acquired a new stake in Nuvation Bio during the fourth quarter worth about $29,000. Firethorn Wealth Partners LLC acquired a new stake in Nuvation Bio during the first quarter worth about $35,000. BNP Paribas Financial Markets acquired a new stake in Nuvation Bio during the fourth quarter worth about $64,000. Finally, Aquatic Capital Management LLC acquired a new stake in Nuvation Bio during the fourth quarter worth about $84,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NUVB shares. JMP Securities reiterated a "market outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a research note on Wednesday, June 25th. Royal Bank Of Canada increased their price objective on shares of Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Nuvation Bio from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Wedbush reiterated an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $7.33.

Nuvation Bio Price Performance

Shares of NUVB traded up $0.46 during mid-day trading on Friday, reaching $3.88. The company had a trading volume of 21,993,749 shares, compared to its average volume of 5,051,995. The company's 50 day simple moving average is $2.52 and its 200 day simple moving average is $2.21. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $4.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.38 and a current ratio of 9.39. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.16 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.17). Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. The company had revenue of $4.83 million for the quarter, compared to the consensus estimate of $0.42 million. Analysts expect that Nuvation Bio Inc. will post -0.36 EPS for the current year.

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.