Northern Trust Corp Grows Stock Position in Nuvation Bio Inc. (NYSE:NUVB)

Northern Trust Corp raised its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 37.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,086,751 shares of the company's stock after acquiring an additional 563,627 shares during the period. Northern Trust Corp owned about 0.62% of Nuvation Bio worth $5,551,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC grew its stake 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 worth $83,000 after purchasing an additional 6,673 shares during the last quarter. Invesco Ltd. grew its position in shares of Nuvation Bio by 2.3% in the 4th quarter. Invesco Ltd. now owns 330,388 shares of the company's stock valued at $879,000 after buying an additional 7,344 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Nuvation Bio by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 225,025 shares of the company's stock valued at $599,000 after buying an additional 9,758 shares during the period. Forum Financial Management LP acquired a new position in shares of Nuvation Bio in the fourth quarter worth approximately $29,000. Finally, Cerity Partners LLC acquired a new position in shares of Nuvation Bio in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 61.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NUVB shares. Wedbush reissued an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, May 15th. Citizens Jmp began coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price target on the stock. Jones Trading initiated coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They set a "buy" rating and a $10.00 price objective for the company. Citigroup initiated coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set an "outperform" rating on the stock. Finally, HC Wainwright reduced their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, March 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Nuvation Bio presently has a consensus rating of "Buy" and an average price target of $7.83.

Nuvation Bio Trading Up 2.7%

NUVB stock traded up $0.06 during midday trading on Monday, hitting $2.31. The company had a trading volume of 3,061,637 shares, compared to its average volume of 2,297,025. Nuvation Bio Inc. has a 52 week low of $1.54 and a 52 week high of $3.97. The stock has a market cap of $786.01 million, a price-to-earnings ratio of -1.06 and a beta of 1.42. The stock's 50 day moving average price is $2.02 and its 200 day moving average price is $2.34.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, hitting analysts' consensus estimates of ($0.16). The business had revenue of $3.08 million during the quarter, compared to analysts' expectations of $0.42 million. Analysts predict that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.

Insider Activity at Nuvation Bio

In other news, CEO David Hung bought 200,000 shares of the firm's stock in a transaction on Friday, April 4th. The shares were bought at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the purchase, the chief executive officer now owns 58,481,054 shares in the company, valued at approximately $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dongfang Liu sold 20,000 shares of Nuvation Bio stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total transaction of $50,000.00. Following the transaction, the insider now owns 12,000 shares in the company, 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 corporate insiders.

Nuvation Bio Company 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.