MPM Bioimpact LLC Boosts Stake in Nuvation Bio Inc. $NUVB

Key Points

• MPM Bioimpact LLC increased its stake in Nuvation Bio Inc. by 11.7%, bringing its ownership to 4,652,243 shares, valued at approximately $8.19 million.
• Several hedge funds have also boosted their positions in Nuvation Bio, with Wells Fargo increasing their stake by 27.8% and other institutions showing significant interest.
• Nuvation Bio maintains a market capitalization of $1.02 billion and recently reported revenues of $4.83 million, surpassing analysts' expectations of $0.42 million for the quarter.

MPM Bioimpact LLC raised its position in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,652,243 shares of the company's stock after purchasing an additional 488,065 shares during the quarter. MPM Bioimpact LLC owned 1.37% of Nuvation Bio worth $8,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NUVB. Wells Fargo & Company MN raised its position in Nuvation Bio by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 106,416 shares of the company's stock worth $283,000 after purchasing an additional 23,178 shares during the period. MetLife Investment Management LLC raised its position in Nuvation Bio by 13.8% in the 4th quarter. MetLife Investment Management LLC now owns 103,647 shares of the company's stock worth $276,000 after purchasing an additional 12,596 shares during the period. Hsbc Holdings PLC raised its position in Nuvation Bio by 22.0% in the 4th quarter. Hsbc Holdings PLC now owns 143,223 shares of the company's stock worth $378,000 after purchasing an additional 25,870 shares during the period. Price T Rowe Associates Inc. MD raised its position in Nuvation Bio by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 225,025 shares of the company's stock worth $599,000 after purchasing an additional 9,758 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in Nuvation Bio in the 4th quarter worth about $84,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Trading Up 1.9%

NYSE:NUVB opened at $2.98 on Tuesday. 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 firm has a fifty day simple moving average of $2.40 and a 200-day simple moving average of $2.18. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $3.45. The company has a market capitalization of $1.02 billion, a P/E ratio of -4.72 and a beta of 1.36.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Nuvation Bio from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. 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. Royal Bank Of Canada raised their target price on shares of Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $7.33.

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.

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