FMR LLC grew its position in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 54.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,285,572 shares of the company's stock after buying an additional 16,046,701 shares during the quarter. FMR LLC owned 13.46% of Nuvation Bio worth $120,460,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company's stock valued at $9,541,000 after acquiring an additional 191,031 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Nuvation Bio by 83.3% in the third quarter. Wellington Management Group LLP now owns 623,973 shares of the company's stock valued at $1,429,000 after purchasing an additional 283,642 shares in the last quarter. XTX Topco Ltd purchased a new stake in Nuvation Bio during the 3rd quarter worth approximately $302,000. Geode Capital Management LLC lifted its holdings in Nuvation Bio by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company's stock worth $9,227,000 after buying an additional 196,247 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Nuvation Bio by 479.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company's stock valued at $1,014,000 after buying an additional 366,429 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.
Nuvation Bio Stock Up 4.5 %
NUVB traded up $0.09 on Friday, reaching $1.97. The company's stock had a trading volume of 2,956,293 shares, compared to its average volume of 2,069,797. The company has a market capitalization of $665.50 million, a price-to-earnings ratio of -0.91 and a beta of 1.47. Nuvation Bio Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $3.97. The stock has a 50 day moving average of $1.97 and a two-hundred day moving average of $2.37.
Insider Activity at Nuvation Bio
In other Nuvation Bio news, CEO David Hung purchased 200,000 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the purchase, the chief executive officer now directly owns 58,481,054 shares in the company, valued at approximately $97,078,549.64. This trade represents a 0.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.07% of the company's stock.
Wall Street Analyst Weigh In
NUVB has been the topic of several analyst reports. Wedbush reiterated an "outperform" rating and issued a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, March 27th. Jones Trading initiated coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and set a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Finally, 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 report on Monday, March 10th.
Check Out Our Latest Report on Nuvation Bio
About Nuvation Bio
(
Free Report)
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.
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