Nuvation Bio Inc. (NYSE:NUVB) Shares Bought by Wexford Capital LP

Wexford Capital LP lifted its position in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 45.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 946,219 shares of the company's stock after purchasing an additional 294,452 shares during the period. Wexford Capital LP owned about 0.28% of Nuvation Bio worth $2,517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Nuvation Bio by 38.8% during the fourth quarter. Legal & General Group Plc now owns 224,827 shares of the company's stock worth $598,000 after purchasing an additional 62,877 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Nuvation Bio by 479.1% during the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company's stock worth $1,014,000 after purchasing an additional 366,429 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $41,849,000 after purchasing an additional 4,913,820 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Nuvation Bio during the fourth quarter worth about $116,000. Finally, Peapod Lane Capital LLC acquired a new stake in shares of Nuvation Bio during the fourth quarter worth about $1,042,000. Institutional investors and hedge funds own 61.67% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on NUVB shares. Wedbush reiterated an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Thursday, May 15th. Citigroup started coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They set an "outperform" rating for the company. HC Wainwright decreased their price objective on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Citizens Jmp initiated coverage on Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 target price on the stock. Finally, Jones Trading initiated coverage on Nuvation Bio in a report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nuvation Bio currently has an average rating of "Buy" and a consensus price target of $7.83.

Nuvation Bio Stock Performance

NUVB traded up $0.06 during trading on Friday, reaching $2.31. The company's stock had a trading volume of 3,061,637 shares, compared to its average volume of 2,290,961. Nuvation Bio Inc. has a 52-week low of $1.54 and a 52-week high of $3.97. The company's fifty day moving average price is $2.01 and its 200-day moving average price is $2.35. The company has a market capitalization of $786.01 million, a price-to-earnings ratio of -1.06 and a beta of 1.42.

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

Insider Buying and Selling at Nuvation Bio

In other news, CEO David Hung purchased 200,000 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $1.66 per share, with a total value of $332,000.00. Following the purchase, the chief executive officer now directly owns 58,481,054 shares of the company's stock, valued at $97,078,549.64. The trade was a 0.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dongfang Liu sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $2.50, for a total value of $50,000.00. Following the sale, the insider now directly owns 12,000 shares in the company, valued at $30,000. This trade represents a 62.50% decrease in their position. The disclosure for this sale can be found here. 29.93% of the stock is owned by corporate insiders.

Nuvation Bio Company 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.