Vanguard Group Inc. Reduces Position in Nuvation Bio Inc. $NUVB

Key Points

• Vanguard Group Inc. reduced its stake in Nuvation Bio Inc. by 2.1% to 15,397,820 shares, valuing its shareholding at $27.1 million as of the latest SEC filing.
• Other institutional investors, including Two Sigma Investments L.P. and Exchange Traded Concepts LLC, have increased their stakes in Nuvation Bio, indicating a mix of investment strategies among significant stakeholders.
• Nuvation Bio reported a quarterly revenue of $4.83 million, exceeding analyst estimates, yet reported earnings per share of ($0.17), consistent with expectations, amid fluctuating price targets from analysts.

Vanguard Group Inc. decreased its stake in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,397,820 shares of the company's stock after selling 334,747 shares during the quarter. Vanguard Group Inc. owned approximately 4.55% of Nuvation Bio worth $27,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MPM Bioimpact LLC bought a new stake in Nuvation Bio during the 4th quarter valued at about $11,077,000. Millennium Management LLC lifted its holdings in Nuvation Bio by 82.7% during the 4th quarter. Millennium Management LLC now owns 2,475,872 shares of the company's stock valued at $6,586,000 after buying an additional 1,120,874 shares in the last quarter. Northern Trust Corp lifted its holdings in Nuvation Bio by 37.0% during the 4th quarter. Northern Trust Corp now owns 2,086,751 shares of the company's stock valued at $5,551,000 after buying an additional 563,627 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Nuvation Bio by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company's stock valued at $3,062,000 after buying an additional 5,925 shares in the last quarter. Finally, Wexford Capital LP lifted its holdings in Nuvation Bio by 45.2% during the 4th quarter. Wexford Capital LP now owns 946,219 shares of the company's stock valued at $2,517,000 after buying an additional 294,452 shares in the last quarter. Institutional investors own 61.67% of the company's stock.

Analyst Ratings Changes

NUVB has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on shares of Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Friday, August 8th. JMP Securities restated a "market outperform" rating and issued a $6.00 price target on shares of Nuvation Bio in a report on Wednesday, June 25th. Wedbush restated an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of Nuvation Bio from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $7.33.

Nuvation Bio Stock Up 1.9%

Shares of Nuvation Bio stock traded up $0.06 on Monday, reaching $2.98. The stock had a trading volume of 2,390,679 shares, compared to its average volume of 4,721,690. The company has a 50 day moving average price of $2.38 and a 200 day moving average price of $2.17. The company has a quick ratio of 9.38, a current ratio of 9.39 and a debt-to-equity ratio of 0.13. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $3.45. The stock has a market capitalization of $1.02 billion, a P/E ratio of -4.72 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.17). Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. The firm had revenue of $4.83 million for the quarter, compared to the consensus estimate of $0.42 million. As a group, equities research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current year.

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.