Nuvation Bio Inc. $NUVB Stock Holdings Lowered by Omega Fund Management LLC

Omega Fund Management LLC lowered its stake in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,081,089 shares of the company's stock after selling 750,000 shares during the quarter. Nuvation Bio accounts for 25.3% of Omega Fund Management LLC's portfolio, making the stock its largest position. Omega Fund Management LLC owned about 2.36% of Nuvation Bio worth $72,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Nuvation Bio by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 15,555,606 shares of the company's stock worth $139,378,000 after purchasing an additional 101,011 shares during the last quarter. Millennium Management LLC raised its position in Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock worth $6,642,000 after acquiring an additional 1,298,131 shares during the period. Dimensional Fund Advisors LP raised its position in Nuvation Bio by 19.9% in the third quarter. Dimensional Fund Advisors LP now owns 3,321,249 shares of the company's stock worth $12,276,000 after acquiring an additional 551,508 shares during the period. Aisling Capital Management LP raised its position in Nuvation Bio by 16.5% in the third quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company's stock worth $10,954,000 after acquiring an additional 419,650 shares during the period. Finally, Two Sigma Investments LP raised its position in Nuvation Bio by 95.7% in the third quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company's stock worth $8,797,000 after acquiring an additional 1,162,837 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Nuvation Bio from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. HC Wainwright reiterated a "buy" rating and issued a $17.00 price target on shares of Nuvation Bio in a research report on Tuesday, May 5th. Finally, UBS Group decreased their price target on shares of Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $5.12 on Wednesday. Nuvation Bio Inc. has a 52 week low of $1.58 and a 52 week high of $9.75. The company has a quick ratio of 7.24, a current ratio of 7.44 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $4.76 and a two-hundred day simple moving average of $5.83. The stock has a market capitalization of $1.78 billion, a P/E ratio of -11.90 and a beta of 1.52.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.04. The company had revenue of $83.23 million during the quarter, compared to analyst estimates of $66.22 million. Nuvation Bio had a negative net margin of 102.06% and a negative return on equity of 44.10%. On average, analysts expect that Nuvation Bio Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Nuvation Bio

In related news, insider Dongfang Liu sold 50,000 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $5.02, for a total value of $251,000.00. Following the completion of the transaction, the insider directly owned 18,000 shares in the company, valued at $90,360. The trade was a 73.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mashal bought 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $4.73 per share, with a total value of $118,250.00. Following the completion of the purchase, the director owned 225,000 shares in the company, valued at approximately $1,064,250. This trade represents a 12.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 286,750 shares of company stock worth $1,339,118 in the last three months. Company insiders own 30.11% of the company's stock.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company's pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.

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