David Hung Acquires 300,000 Shares of Nuvation Bio Inc. (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) CEO David Hung purchased 300,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $1.62 per share, with a total value of $486,000.00. Following the completion of the purchase, the chief executive officer now directly owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This represents a 0.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Nuvation Bio Stock Performance

Nuvation Bio stock traded down $0.15 during midday trading on Tuesday, reaching $1.66. 3,701,974 shares of the company’s stock were exchanged, compared to its average volume of 1,992,391. The stock’s 50-day simple moving average is $2.05 and its 200 day simple moving average is $2.41. The firm has a market cap of $560.51 million, a price-to-earnings ratio of -0.76 and a beta of 1.47. Nuvation Bio Inc. has a 52 week low of $1.54 and a 52 week high of $3.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in Nuvation Bio by 8.3% during the 4th quarter. Wellington Management Group LLP now owns 676,024 shares of the company’s stock valued at $1,798,000 after purchasing an additional 52,051 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Nuvation Bio by 40.1% during the 4th quarter. California State Teachers Retirement System now owns 200,380 shares of the company’s stock worth $533,000 after buying an additional 57,310 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Nuvation Bio in the 4th quarter valued at about $27,000. Forum Financial Management LP bought a new position in Nuvation Bio in the 4th quarter valued at about $29,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Nuvation Bio by 54.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,806 shares of the company’s stock worth $925,000 after acquiring an additional 122,187 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NUVB. Jones Trading initiated coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price target on the stock. HC Wainwright reduced their price target on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th.

Nuvation Bio Company 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.