Nuvation Bio Inc. $NUVB Stock Acquired by Profund Advisors LLC

Profund Advisors LLC increased its position in Nuvation Bio Inc. (NYSE:NUVB) by 297.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,483 shares of the company’s stock after buying an additional 179,994 shares during the quarter. Profund Advisors LLC’s holdings in Nuvation Bio were worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC raised its stake in Nuvation Bio by 847.9% during the third quarter. Sterling Capital Management LLC now owns 8,389 shares of the company’s stock valued at $47,000 after buying an additional 7,504 shares during the last quarter. KBC Group NV purchased a new position in shares of Nuvation Bio during the first quarter valued at about $37,000. GK Wealth Management LLC bought a new stake in Nuvation Bio during the third quarter worth approximately $52,000. Emergent Wealth Advisors LLC bought a new position in Nuvation Bio during the 3rd quarter valued at about $67,000. Finally, Tortoise Investment Management LLC purchased a new position in Nuvation Bio during the 2nd quarter valued at $78,000. 61.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several research reports. Citizens Jmp restated a “market outperform” rating and set a $10.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 16th. Truist Financial increased their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. assumed coverage on shares of Nuvation Bio in a research report on Tuesday, August 18th. They set an “overweight” rating and a $13.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Wednesday, September 16th. Finally, Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research note on Monday, October 19th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.22.

Insider Activity at Nuvation Bio

In related news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total transaction of $709,000.00. Following the sale, the insider directly owned 100,000 shares in the company, valued at $709,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is owned by company insiders.

Nuvation Bio Price Performance

Shares of NUVB opened at $4.61 on Tuesday. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. Nuvation Bio Inc. has a twelve month low of $3.92 and a twelve month high of $9.75. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -10.47 and a beta of 1.61. The firm’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $5.41.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $31.69 million during the quarter, compared to analyst estimates of $27.03 million. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. Equities analysts forecast that Nuvation Bio Inc. will post -0.34 EPS for the current fiscal year.

Nuvation Bio Profile

Nuvation Bio, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with cancer. The company seeks to address areas of significant unmet need, with an emphasis on targeted therapies for solid tumors.

Nuvation Bio’s lead product is taletrectinib, a next-generation tyrosine kinase inhibitor designed for patients with ROS1-positive non-small cell lung cancer (NSCLC), including certain tumors that have developed resistance to earlier ROS1-targeted treatments.