Renaissance Technologies LLC Has $1.51 Million Stock Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Renaissance Technologies LLC lessened its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 44.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,800 shares of the company's stock after selling 462,200 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of Nuvation Bio worth $1,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legal & General Group Plc increased its holdings in Nuvation Bio by 38.8% during the 4th quarter. Legal & General Group Plc now owns 224,827 shares of the company's stock worth $598,000 after purchasing an additional 62,877 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Nuvation Bio by 2.3% during the fourth quarter. Invesco Ltd. now owns 330,388 shares of the company's stock worth $879,000 after buying an additional 7,344 shares in the last quarter. Cerity Partners LLC acquired a new stake in Nuvation Bio in the 4th quarter valued at approximately $31,000. FMR LLC lifted its stake in Nuvation Bio by 54.9% in the 4th quarter. FMR LLC now owns 45,285,572 shares of the company's stock valued at $120,460,000 after acquiring an additional 16,046,701 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Nuvation Bio by 15,183.7% in the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company's stock valued at $42,000 after acquiring an additional 15,791 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUVB has been the topic of a number of recent research reports. JMP Securities assumed coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued a "market outperform" rating and a $6.00 price objective on the stock. 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 on the stock. HC Wainwright decreased their price objective on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating for the company in a report on Monday, March 10th. Royal Bank of Canada reiterated an "outperform" rating and set a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, Citizens Jmp initiated coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a "mkt outperform" rating and a $6.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $7.83.

Nuvation Bio Stock Performance

NYSE:NUVB traded up $0.19 during mid-day trading on Friday, hitting $2.46. The stock had a trading volume of 5,897,209 shares, compared to its average volume of 2,141,431. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97. The stock has a market cap of $833.15 million, a price-to-earnings ratio of -1.13 and a beta of 1.47. The company's 50 day simple moving average is $1.96 and its 200 day simple moving average is $2.37.

Insider Buying and Selling at Nuvation Bio

In related news, CEO David Hung acquired 300,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were bought at an average cost of $1.62 per share, with a total value of $486,000.00. Following the completion of the transaction, the chief executive officer now directly owns 58,781,054 shares of the company's stock, valued at $95,225,307.48. This trade represents a 0.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 29.93% of the company's stock.

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.