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

Algert Global LLC raised its stake in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 202.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 also recently made changes to their positions in NUVB. Forum Financial Management LP acquired a new stake in Nuvation Bio in the 4th quarter valued at about $29,000. Cerity Partners LLC bought a new stake in shares of Nuvation Bio in the 4th quarter worth approximately $31,000. Russell Investments Group Ltd. raised its holdings in shares of Nuvation Bio by 15,183.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock worth $42,000 after purchasing an additional 15,791 shares in the last quarter. Abacus Planning Group Inc. acquired a new stake in Nuvation Bio during the fourth quarter valued at approximately $44,000. Finally, Cibc World Markets Corp bought a new stake in Nuvation Bio during the fourth quarter worth approximately $45,000. 61.67% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO David Hung acquired 300,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of $1.62 per share, for a total transaction of $486,000.00. Following the completion of the purchase, the chief executive officer now directly owns 58,781,054 shares of the company's stock, valued at $95,225,307.48. The trade was a 0.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the business'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 completion of the transaction, the insider now owns 12,000 shares in the company, valued at approximately $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 owned by company insiders.

Nuvation Bio Stock Down 2.3%

Shares of NYSE:NUVB traded down $0.05 during trading on Wednesday, reaching $2.14. 834,526 shares of the company traded hands, compared to its average volume of 2,199,494. 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 $724.77 million, a P/E ratio of -0.99 and a beta of 1.42. The firm has a fifty day simple moving average of $2.00 and a 200 day simple moving average of $2.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 anticipate that Nuvation Bio Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. 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. HC Wainwright dropped their price target on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Wedbush reaffirmed an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, March 27th. Jones Trading began coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They issued an "outperform" rating for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nuvation Bio currently has a consensus rating of "Buy" and a consensus price target of $7.83.

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.