Exome Asset Management LLC Takes Position in Nuvation Bio Inc. $NUVB

Key Points

• Exome Asset Management LLC has acquired 96,311 shares of Nuvation Bio Inc., valued at approximately $170,000, during the first quarter of the year.
• Analysts have recently set a consensus target price of $7.50 for Nuvation Bio shares, with several ratings indicating an "outperform" outlook.
• Nuvation Bio reported a negative EPS of $0.17 for the last quarter, while revenue significantly exceeded analyst estimates at $4.83 million.

Exome Asset Management LLC purchased a new position in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 96,311 shares of the company's stock, valued at approximately $170,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MPM Bioimpact LLC lifted its position in Nuvation Bio by 11.7% during the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company's stock worth $8,188,000 after buying an additional 488,065 shares in the last quarter. Millennium Management LLC lifted its position in Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock worth $6,642,000 after buying an additional 1,298,131 shares in the last quarter. Northern Trust Corp lifted its position in Nuvation Bio by 37.0% during the 4th quarter. Northern Trust Corp now owns 2,086,751 shares of the company's stock worth $5,551,000 after buying an additional 563,627 shares in the last quarter. Two Sigma Investments LP lifted its position in Nuvation Bio by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company's stock worth $3,062,000 after buying an additional 5,925 shares in the last quarter. Finally, Algert Global LLC raised its holdings in Nuvation Bio by 15.3% during the 1st quarter. Algert Global LLC now owns 1,005,226 shares of the company's stock worth $1,769,000 after purchasing an additional 133,757 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Trading Down 6.3%

Shares of NUVB stock traded down $0.21 on Friday, reaching $3.14. The company had a trading volume of 7,932,408 shares, compared to its average volume of 6,337,646. The company has a current ratio of 9.39, a quick ratio of 9.38 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.07 billion, a PE ratio of -4.98 and a beta of 1.36. The company has a 50-day moving average of $2.65 and a 200-day moving average of $2.25. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $4.09.

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

Analysts Set New Price Targets

Several brokerages have weighed in on NUVB. Wedbush reissued an "outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a report on Monday, September 8th. JMP Securities reissued a "market outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 25th. Wall Street Zen raised Nuvation Bio from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Royal Bank Of Canada boosted their price objective on Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, Nuvation Bio has an average rating of "Buy" and an average price target of $7.50.

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.