XTX Topco Ltd Trims Holdings in Nuvation Bio Inc. (NYSE:NUVB)

XTX Topco Ltd decreased its position in shares of Nuvation Bio Inc. (NYSE:NUVB - Free Report) by 92.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,585 shares of the company's stock after selling 121,444 shares during the quarter. XTX Topco Ltd's holdings in Nuvation Bio were worth $28,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Nuvation Bio by 54.9% during 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nuvation Bio by 45.4% in the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock worth $41,849,000 after acquiring an additional 4,913,820 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Nuvation Bio by 22.9% during the 4th quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company's stock worth $13,174,000 after purchasing an additional 922,503 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Nuvation Bio by 39.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,945,983 shares of the company's stock valued at $5,176,000 after buying an additional 551,968 shares during the period. Finally, Peapod Lane Capital LLC purchased a new stake in Nuvation Bio in the fourth quarter worth $1,042,000. Hedge funds and other institutional investors own 61.67% of the company's stock.

Insiders Place Their Bets

In other news, CEO David Hung purchased 200,000 shares of the stock in a transaction dated Friday, April 4th. The shares were purchased at an average cost of $1.66 per share, with a total value of $332,000.00. Following the completion of the purchase, the chief executive officer now directly owns 58,481,054 shares of the company's stock, valued at approximately $97,078,549.64. The trade was a 0.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 29.93% of the stock is currently owned by company insiders.

Nuvation Bio Stock Up 8.4 %

Shares of Nuvation Bio stock traded up $0.19 on Friday, reaching $2.46. The company's stock had a trading volume of 5,897,209 shares, compared to its average volume of 2,141,431. Nuvation Bio Inc. has a 52-week low of $1.54 and a 52-week high of $3.97. The company has a market capitalization of $833.15 million, a P/E ratio of -1.13 and a beta of 1.47. The stock has a 50-day moving average price of $1.96 and a 200-day moving average price of $2.37.

Wall Street Analyst Weigh In

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

About Nuvation Bio

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.