Insider Buying: Nuvation Bio Inc. (NYSE:NUVB) CEO Purchases 200,000 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) CEO David Hung acquired 200,000 shares of the firm's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $1.66 per share, with a total value of $332,000.00. Following the acquisition, the chief executive officer now owns 58,481,054 shares of the company's stock, valued at $97,078,549.64. This trade represents a 0.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

David Hung also recently made the following trade(s):

• On Monday, April 7th, David Hung bought 300,000 shares of Nuvation Bio stock. The stock was acquired at an average cost of $1.62 per share, for a total transaction of $486,000.00.

Nuvation Bio Stock Up 1.0 %

NUVB stock traded up $0.02 during trading on Monday, reaching $2.01. 1,339,199 shares of the company's stock were exchanged, compared to its average volume of 2,033,724. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $3.97. The firm has a market cap of $680.74 million, a PE ratio of -0.93 and a beta of 1.47. The company's fifty day moving average price is $2.01 and its 200-day moving average price is $2.39.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Thursday, March 27th. Jones Trading started coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They set a "buy" rating and a $10.00 price target for the company. HC Wainwright lowered their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Nuvation Bio by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company's stock worth $276,000 after acquiring an additional 5,693 shares during the period. Two Sigma Investments LP boosted its stake in shares of 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 during the period. Zacks Investment Management grew its position in Nuvation Bio by 21.5% in the third quarter. Zacks Investment Management now owns 36,125 shares of the company's stock worth $83,000 after acquiring an additional 6,394 shares in the last quarter. LPL Financial LLC increased its position in Nuvation Bio by 27.0% during the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company's stock worth $83,000 after buying an additional 6,673 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Nuvation Bio by 2.3% during the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company's stock valued at $879,000 after buying an additional 7,344 shares in the last quarter. Institutional investors own 61.67% of the company's stock.

About Nuvation Bio

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.