JPMorgan Chase & Co. Has $320,000 Stock Position in Nuvation Bio Inc. (NYSE:NUVB)

JPMorgan Chase & Co. cut its stake in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 72.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,115 shares of the company's stock after selling 322,798 shares during the quarter. JPMorgan Chase & Co.'s holdings in Nuvation Bio were worth $320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NUVB. Vanguard Group Inc. increased its stake in Nuvation Bio by 45.4% in the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock worth $41,849,000 after buying an additional 4,913,820 shares during the period. LPL Financial LLC boosted its holdings in shares of Nuvation Bio by 27.0% in the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company's stock valued at $83,000 after purchasing an additional 6,673 shares during the period. KLP Kapitalforvaltning AS bought a new position in Nuvation Bio in the fourth quarter worth approximately $116,000. American Century Companies Inc. raised its position in Nuvation Bio by 20.4% during the 4th quarter. American Century Companies Inc. now owns 411,173 shares of the company's stock valued at $1,094,000 after purchasing an additional 69,626 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Nuvation Bio by 73.1% in the 4th quarter. Teacher Retirement System of Texas now owns 64,502 shares of the company's stock worth $172,000 after buying an additional 27,231 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.

Insider Transactions at Nuvation Bio

In other news, CEO David Hung acquired 300,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average cost of $1.62 per share, with a total value of $486,000.00. Following the acquisition, the chief executive officer now owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This represents a 0.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dongfang Liu sold 20,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total transaction of $50,000.00. Following the sale, the insider now owns 12,000 shares of the company's stock, valued at $30,000. This trade represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.93% of the stock is currently owned by company insiders.

Nuvation Bio Trading Down 12.4 %

NYSE NUVB traded down $0.30 during trading on Tuesday, reaching $2.09. 3,857,067 shares of the company's stock were exchanged, compared to its average volume of 2,150,436. The company's fifty day simple moving average is $1.97 and its 200-day simple moving average is $2.37. Nuvation Bio Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $3.97. The firm has a market capitalization of $706.15 million, a PE ratio of -0.96 and a beta of 1.42.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NUVB. Citizens Jmp began coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price objective for the company. JMP Securities assumed coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a "market outperform" rating and a $6.00 target price on the stock. HC Wainwright reduced their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Jones Trading began coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They set a "buy" rating and a $10.00 price target for the company. Finally, Wedbush reissued an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, March 27th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Nuvation Bio presently has a consensus rating of "Buy" and an average target price 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.