Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) CEO David Hung acquired 300,000 shares of Nuvation Bio stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $1.62 per share, for a total transaction of $486,000.00. Following the purchase, the chief executive officer now directly owns 58,781,054 shares of the company's stock, valued at approximately $95,225,307.48. This trade represents a 0.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Nuvation Bio Trading Down 8.1 %
Shares of Nuvation Bio stock opened at $1.66 on Wednesday. The stock has a market capitalization of $560.51 million, a P/E ratio of -0.76 and a beta of 1.47. The business's fifty day moving average price is $2.05 and its 200 day moving average price is $2.41. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97.
Hedge Funds Weigh In On Nuvation Bio
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its holdings in Nuvation Bio by 4.8% in the third quarter. State Street Corp now owns 4,166,441 shares of the company's stock valued at $9,541,000 after buying an additional 191,031 shares during the period. Wellington Management Group LLP raised its stake in shares of Nuvation Bio by 83.3% in the 3rd quarter. Wellington Management Group LLP now owns 623,973 shares of the company's stock valued at $1,429,000 after acquiring an additional 283,642 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Nuvation Bio by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company's stock valued at $9,227,000 after acquiring an additional 196,247 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Nuvation Bio by 479.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company's stock worth $1,014,000 after purchasing an additional 366,429 shares during the period. Finally, Peapod Lane Capital LLC acquired a new stake in Nuvation Bio in the 4th quarter valued at $1,042,000. 61.67% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. HC Wainwright decreased their price objective on Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. 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. Finally, Jones Trading started 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.
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About Nuvation Bio
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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.
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