Torray Investment Partners LLC Buys New Holdings in Nuvation Bio Inc. $NUVB

Torray Investment Partners LLC purchased a new position in Nuvation Bio Inc. (NYSE:NUVB) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 274,814 shares of the company’s stock, valued at approximately $1,539,000. Torray Investment Partners LLC owned approximately 0.08% of Nuvation Bio at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NUVB. Sterling Capital Management LLC grew its holdings in Nuvation Bio by 847.9% during the 3rd 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 in the last quarter. KBC Group NV purchased a new position in shares of Nuvation Bio in the first quarter worth $37,000. GK Wealth Management LLC purchased a new position in shares of Nuvation Bio in the third quarter worth $52,000. Emergent Wealth Advisors LLC bought a new position in shares of Nuvation Bio during the third quarter worth $67,000. Finally, Tortoise Investment Management LLC bought a new position in shares of Nuvation Bio during the second quarter worth $78,000. 61.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NUVB has been the topic of a number of research reports. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a report on Monday, October 19th. Truist Financial boosted their price target 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. began coverage on shares of Nuvation Bio in a report on Tuesday, August 18th. They set an “overweight” rating and a $13.00 price objective for the company. Citizens Jmp restated a “market outperform” rating and set a $10.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 16th. Finally, Royal Bank Of Canada lifted their target price on Nuvation Bio from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.22.

Insider Buying and Selling at Nuvation Bio

In other news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total value of $709,000.00. Following the sale, the insider directly owned 100,000 shares in the company, valued at $709,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 30.11% of the stock is currently owned by company insiders.

Nuvation Bio Trading Up 2.3%

NUVB stock opened at $4.70 on Wednesday. The firm has a fifty day moving average price of $5.55 and a 200 day moving average price of $5.40. Nuvation Bio Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $9.75. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.14 and a current ratio of 8.37. The firm has a market cap of $1.65 billion, a PE ratio of -10.67 and a beta of 1.73.

Nuvation Bio (NYSE:NUVB) last released 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). Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. The business had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $27.03 million. Sell-side analysts anticipate that Nuvation Bio Inc. will post -0.34 earnings per share for the current fiscal year.

About Nuvation Bio

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.