Assenagon Asset Management S.A. Boosts Stock Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Assenagon Asset Management S.A. boosted its stake in Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 219.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 738,831 shares of the company's stock after acquiring an additional 507,452 shares during the quarter. Assenagon Asset Management S.A. owned 0.34% of Nuvation Bio worth $1,116,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NUVB. Centiva Capital LP bought a new stake in Nuvation Bio during the 4th quarter worth about $26,000. Quantbot Technologies LP lifted its position in Nuvation Bio by 147.7% during the 1st quarter. Quantbot Technologies LP now owns 13,383 shares of the company's stock worth $70,000 after buying an additional 7,981 shares in the last quarter. Royal Bank of Canada lifted its position in Nuvation Bio by 133.4% during the 2nd quarter. Royal Bank of Canada now owns 15,199 shares of the company's stock worth $27,000 after buying an additional 8,687 shares in the last quarter. Virtu Financial LLC bought a new stake in Nuvation Bio during the 4th quarter worth about $31,000. Finally, Raymond James & Associates lifted its position in Nuvation Bio by 28.9% during the 1st quarter. Raymond James & Associates now owns 16,060 shares of the company's stock worth $84,000 after buying an additional 3,600 shares in the last quarter. 61.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NUVB shares. Jefferies Financial Group raised shares of Nuvation Bio from a "hold" rating to a "buy" rating and boosted their price target for the stock from $1.40 to $10.00 in a research report on Wednesday, March 27th. BTIG Research upgraded shares of Nuvation Bio from a "neutral" rating to a "buy" rating and set a $5.00 price objective on the stock in a research note on Tuesday, March 26th. HC Wainwright boosted their price objective on shares of Nuvation Bio from $5.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, March 28th. Finally, Wedbush restated an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Friday, March 1st.

Nuvation Bio Trading Down 5.5 %

Shares of Nuvation Bio stock traded down $0.19 during trading on Friday, hitting $3.29. 2,069,956 shares of the stock were exchanged, compared to its average volume of 2,296,268. Nuvation Bio Inc. has a 1-year low of $0.95 and a 1-year high of $4.16. The stock has a market capitalization of $717.38 million, a price-to-earnings ratio of -9.68 and a beta of 1.37. The company has a fifty day moving average price of $2.24 and a 200-day moving average price of $1.66.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.04. Equities research analysts forecast that Nuvation Bio Inc. will post -0.35 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.