UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $925,000 Position in Nuvation Bio Inc. (NYSE:NUVB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 54.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 347,806 shares of the company's stock after buying an additional 122,187 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Nuvation Bio worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wexford Capital LP lifted its stake in shares of Nuvation Bio by 45.2% during the fourth quarter. Wexford Capital LP now owns 946,219 shares of the company's stock valued at $2,517,000 after acquiring an additional 294,452 shares during the period. Two Sigma Investments LP lifted its stake in shares of Nuvation Bio by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company's stock valued at $3,062,000 after acquiring an additional 5,925 shares during the period. ProShare Advisors LLC lifted its stake in shares of Nuvation Bio by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 51,060 shares of the company's stock valued at $136,000 after acquiring an additional 16,801 shares during the period. MPM Bioimpact LLC acquired a new position in shares of Nuvation Bio during the fourth quarter valued at $11,077,000. Finally, Millennium Management LLC lifted 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 period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock traded down $0.09 during trading hours on Friday, hitting $1.73. The company's stock had a trading volume of 8,930,836 shares, compared to its average volume of 2,648,856. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $3.97. The stock has a 50 day moving average of $2.15 and a 200 day moving average of $2.30. The company has a market capitalization of $586.95 million, a PE ratio of -0.79 and a beta of 1.37.

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

Analysts Set New Price Targets

NUVB has been the subject of a number of recent analyst reports. Jones Trading initiated coverage on Nuvation Bio in a report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price objective for the company. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Nuvation Bio in a report on Monday, June 2nd. Wall Street Zen downgraded Nuvation Bio from a "hold" rating to a "sell" rating in a report on Saturday. 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 objective for the company. Finally, HC Wainwright dropped their price objective on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.83.

Insiders Place Their Bets

In related news, insider Dongfang Liu sold 20,000 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the transaction, the insider now directly owns 12,000 shares in the company, valued at approximately $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Hung purchased 200,000 shares of the firm's stock in a transaction on Friday, April 4th. The stock was bought at an average price of $1.66 per share, with a total value of $332,000.00. Following the completion of the purchase, the chief executive officer now owns 58,481,054 shares of the company's stock, valued at approximately $97,078,549.64. This represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.