Algert Global LLC Has $1.77 Million Stock Position in Nuvation Bio Inc. $NUVB

Key Points

• Algert Global LLC increased its stake in Nuvation Bio Inc. by 15.3%, acquiring an additional 133,757 shares, bringing its total holdings to approximately 1,005,226 shares worth $1.77 million.
• Nuvation Bio reported a quarterly revenue of $4.83 million, significantly exceeding analysts' expectations of $0.42 million, despite a negative net margin of 1,413.43%.
• Wall Street analysts maintain a positive outlook on Nuvation Bio, with a consensus rating of "Buy" and an average price target of $7.33 per share.

Algert Global LLC increased its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,005,226 shares of the company's stock after purchasing an additional 133,757 shares during the period. Algert Global LLC owned approximately 0.30% of Nuvation Bio worth $1,769,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NUVB. LPL Financial LLC lifted its position in shares of Nuvation Bio by 27.0% during the 4th 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. Wells Fargo & Company MN grew its position in Nuvation Bio by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 106,416 shares of the company's stock worth $283,000 after acquiring an additional 23,178 shares during the last quarter. Russell Investments Group Ltd. grew its position in Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock worth $42,000 after acquiring an additional 15,791 shares during the last quarter. Cerity Partners LLC bought a new stake in Nuvation Bio during the 4th quarter worth approximately $31,000. Finally, Invesco Ltd. grew its position in Nuvation Bio by 2.3% during the 4th quarter. Invesco Ltd. now owns 330,388 shares of the company's stock worth $879,000 after acquiring an additional 7,344 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Trading Down 1.2%

Shares of NYSE:NUVB traded down $0.04 during midday trading on Wednesday, hitting $2.95. The company had a trading volume of 4,785,816 shares, compared to its average volume of 4,638,185. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $3.45. 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 $1.01 billion, a price-to-earnings ratio of -4.67 and a beta of 1.35. The firm has a fifty day simple moving average of $2.34 and a 200 day simple moving average of $2.17.

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 (EPS) for the quarter, hitting the consensus estimate of ($0.17). Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%.The business had revenue of $4.83 million for the quarter, compared to analyst estimates of $0.42 million. On average, analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NUVB shares. Wall Street Zen raised Nuvation Bio from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. JMP Securities reissued a "market outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 25th. Royal Bank Of Canada lifted their target price on Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Wedbush reissued an "outperform" rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat.com, Nuvation Bio has a consensus rating of "Buy" and a consensus price target of $7.33.

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.