Nuvation Bio Inc. (NYSE:NUVB) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 52.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,011 shares of the company's stock after selling 121,986 shares during the period. Squarepoint Ops LLC's holdings in Nuvation Bio were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NUVB. FMR LLC raised its position in Nuvation Bio by 54.9% during the fourth quarter. FMR LLC now owns 45,285,572 shares of the company's stock worth $120,460,000 after acquiring an additional 16,046,701 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Nuvation Bio by 45.4% during the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock valued at $41,849,000 after acquiring an additional 4,913,820 shares during the last quarter. MPM Bioimpact LLC acquired a new stake in shares of Nuvation Bio during the fourth quarter valued at $11,077,000. Millennium Management LLC boosted its stake in shares of Nuvation Bio by 82.7% during the fourth quarter. Millennium Management LLC now owns 2,475,872 shares of the company's stock valued at $6,586,000 after acquiring an additional 1,120,874 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Nuvation Bio by 22.9% during the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock valued at $13,174,000 after acquiring an additional 922,503 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $2.47 on Friday. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $3.97. The firm has a 50 day moving average price of $2.10 and a 200 day moving average price of $2.32. The company has a market cap of $840.45 million, a price-to-earnings ratio of -1.14 and a beta of 1.37.

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

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 12,000 shares in the company, valued at $30,000. The trade was a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Hung acquired 300,000 shares of the firm's stock in a transaction on Monday, April 7th. The shares were acquired at an average price of $1.62 per share, with a total value of $486,000.00. Following the completion of the purchase, the chief executive officer now owns 58,781,054 shares of the company's stock, valued at $95,225,307.48. This trade represents a 0.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 29.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NUVB has been the topic of a number of analyst reports. Citigroup started coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They set an "outperform" rating on the stock. Wall Street Zen raised shares of Nuvation Bio from a "sell" rating to a "hold" rating in a research report on Friday. JMP Securities reissued a "market outperform" rating and issued a $6.00 price objective on shares of Nuvation Bio in a research report on Monday, June 2nd. Jones Trading started coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Citizens Jmp started coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $7.83.

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.

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