Exchange Traded Concepts LLC Has $107,000 Stock Position in Nuvation Bio Inc. (NYSE:NUVB)

Exchange Traded Concepts LLC grew its stake in shares of Nuvation Bio Inc. (NYSE:NUVBFree Report) by 11.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,951 shares of the company’s stock after purchasing an additional 6,403 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Nuvation Bio were worth $107,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NUVB. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Nuvation Bio during the 4th quarter worth approximately $27,000. BNP Paribas Financial Markets acquired a new position in shares of Nuvation Bio during the 4th quarter worth approximately $64,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Nuvation Bio by 54.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,806 shares of the company’s stock valued at $925,000 after purchasing an additional 122,187 shares during the period. Millennium Management LLC boosted its stake in Nuvation Bio by 82.7% in the 4th quarter. Millennium Management LLC now owns 2,475,872 shares of the company’s stock valued at $6,586,000 after purchasing an additional 1,120,874 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Nuvation Bio by 40.1% in the 4th quarter. California State Teachers Retirement System now owns 200,380 shares of the company’s stock valued at $533,000 after purchasing an additional 57,310 shares during the period. Institutional investors and hedge funds own 61.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NUVB. Citigroup began coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued an “outperform” rating for the company. Wall Street Zen downgraded Nuvation Bio from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. JMP Securities reiterated a “market outperform” rating and set a $6.00 target price on shares of Nuvation Bio in a research report on Monday, June 2nd. Citizens Jmp initiated coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 target price for the company. Finally, Royal Bank Of Canada upgraded Nuvation Bio from an “outperform” rating to a “moderate buy” rating and cut their target price for the company from $10.00 to $6.00 in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.17.

Read Our Latest Report on NUVB

Nuvation Bio Stock Up 0.7%

Shares of NUVB stock opened at $2.05 on Wednesday. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97. The company has a market cap of $695.83 million, a P/E ratio of -0.87 and a beta of 1.37. The business has a fifty day simple moving average of $2.15 and a 200 day simple moving average of $2.25.

Nuvation Bio (NYSE:NUVBGet Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). Nuvation Bio had a negative return on equity of 44.14% and a negative net margin of 5,534.21%. The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. As a group, equities research analysts anticipate that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Hung bought 300,000 shares of the stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $1.62 per share, with a total value of $486,000.00. Following the acquisition, the chief executive officer now directly owns 58,781,054 shares in the company, valued at approximately $95,225,307.48. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dongfang Liu sold 20,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the sale, the insider now directly owns 12,000 shares of the company’s stock, valued at approximately $30,000. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 29.93% of the company’s stock.

Nuvation Bio Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Nuvation Bio (NYSE:NUVB)

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