Nuvation Bio Inc. (NYSE:NUVB) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 37.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,086,751 shares of the company's stock after buying an additional 563,627 shares during the quarter. Northern Trust Corp owned 0.62% of Nuvation Bio worth $5,551,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NUVB. JPMorgan Chase & Co. boosted its holdings in shares of Nuvation Bio by 479.1% in the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company's stock valued at $1,014,000 after purchasing an additional 366,429 shares during the period. Peapod Lane Capital LLC purchased a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $1,042,000. Palumbo Wealth Management LLC boosted its holdings in shares of Nuvation Bio by 297.4% in the fourth quarter. Palumbo Wealth Management LLC now owns 65,360 shares of the company's stock valued at $174,000 after purchasing an additional 48,914 shares during the period. Abacus Planning Group Inc. purchased a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $44,000. Finally, Ieq Capital LLC purchased a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $98,000. Institutional investors own 61.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wedbush reiterated an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Thursday, May 15th. Citigroup assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued an "outperform" rating for the company. Citizens Jmp initiated coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price target for the company. Jones Trading initiated coverage on Nuvation Bio in a report on Wednesday, March 12th. They set a "buy" rating and a $10.00 target price for the company. Finally, JMP Securities initiated coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set a "market outperform" rating and a $6.00 target price for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $7.83.

Nuvation Bio Stock Up 2.7%

Shares of Nuvation Bio stock traded up $0.06 on Friday, reaching $2.31. The stock had a trading volume of 3,061,637 shares, compared to its average volume of 2,290,961. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $3.97. The company has a 50 day moving average price of $2.01 and a 200 day moving average price of $2.35. The stock has a market capitalization of $786.01 million, a P/E ratio of -1.06 and a beta of 1.42.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $3.08 million for the quarter, compared to analysts' expectations of $0.42 million. On average, analysts forecast that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David Hung bought 300,000 shares of Nuvation Bio stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $1.62 per share, for a total transaction of $486,000.00. Following the purchase, the chief executive officer now directly owns 58,781,054 shares of the company's stock, valued at approximately $95,225,307.48. The trade was a 0.51% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the transaction, the insider now owns 12,000 shares of the company's stock, valued at $30,000. This trade represents a 62.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.93% of the company's stock.

Nuvation Bio 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.