Algert Global LLC Buys 583,280 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Algert Global LLC boosted its holdings in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 202.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 871,469 shares of the company's stock after buying an additional 583,280 shares during the period. Algert Global LLC owned approximately 0.26% of Nuvation Bio worth $2,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NUVB. Northern Trust Corp grew its stake in shares of Nuvation Bio by 37.0% during the fourth quarter. Northern Trust Corp now owns 2,086,751 shares of the company's stock worth $5,551,000 after purchasing an additional 563,627 shares during the period. Beacon Pointe Advisors LLC bought a new position in Nuvation Bio during the fourth quarter worth about $142,000. Aquatic Capital Management LLC acquired a new position in shares of Nuvation Bio during the 4th quarter worth about $84,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Nuvation Bio in the 4th quarter valued at about $572,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Nuvation Bio by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 225,025 shares of the company's stock valued at $599,000 after acquiring an additional 9,758 shares during the last quarter. 61.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of the company's stock in a transaction on 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 directly owns 12,000 shares of the company's stock, valued at approximately $30,000. This represents a 62.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Hung acquired 200,000 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $1.66 per share, with a total value of $332,000.00. Following the transaction, the chief executive officer now 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 disclosure for this purchase can be found here. Insiders own 29.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on NUVB. JMP Securities started coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They issued a "market outperform" rating and a $6.00 target price for the company. HC Wainwright reduced their target price on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Jones Trading assumed coverage on Nuvation Bio in a report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 price target for the company. Citizens Jmp initiated coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price objective on the stock. Finally, Wedbush reissued an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, March 27th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $7.83.

Nuvation Bio Trading Down 0.5 %

Shares of NUVB stock traded down $0.01 on Friday, hitting $2.09. 3,315,973 shares of the stock were exchanged, compared to its average volume of 2,192,689. The firm has a market capitalization of $707.84 million, a P/E ratio of -0.96 and a beta of 1.42. Nuvation Bio Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $3.97. The business has a 50-day moving average of $1.98 and a 200 day moving average of $2.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.16). The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $0.42 million. As a group, research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal 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.