Beacon Pointe Advisors LLC Purchases 84,900 Shares of Nuvation Bio Inc. $NUVB

Beacon Pointe Advisors LLC boosted its position in Nuvation Bio Inc. (NYSE:NUVB) by 66.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 211,950 shares of the company’s stock after purchasing an additional 84,900 shares during the period. Beacon Pointe Advisors LLC’s holdings in Nuvation Bio were worth $413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Highline Wealth Partners LLC bought a new position in shares of Nuvation Bio in the 2nd quarter worth approximately $25,000. Cetera Investment Advisers purchased a new stake in Nuvation Bio during the second quarter valued at approximately $29,000. Kingswood Wealth Advisors LLC purchased a new stake in Nuvation Bio during the second quarter valued at approximately $42,000. Atria Investments Inc bought a new position in Nuvation Bio in the second quarter worth approximately $42,000. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Nuvation Bio by 45.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 25,480 shares of the company’s stock worth $50,000 after acquiring an additional 7,913 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NUVB. JMP Securities set a $10.00 price objective on Nuvation Bio in a research note on Thursday, November 20th. Royal Bank Of Canada boosted their price target on Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Citizens Jmp upped their price target on Nuvation Bio from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 20th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Nuvation Bio in a research report on Monday, December 1st. Finally, Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of Nuvation Bio in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Nuvation Bio Stock Up 0.5%

NYSE NUVB opened at $8.60 on Tuesday. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $8.95. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.95 billion, a PE ratio of -13.43 and a beta of 1.57. The stock’s 50 day moving average is $5.33 and its 200 day moving average is $3.52.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The business had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Research analysts predict that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 150,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $7.82, for a total value of $1,173,000.00. Following the sale, the insider owned 18,000 shares in the company, valued at $140,760. The trade was a 89.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Hattersley sold 100,000 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The SEC filing for this sale provides additional information. Insiders have sold 320,000 shares of company stock valued at $2,050,800 over the last ninety days. 29.93% of the stock is currently owned by corporate insiders.

Nuvation Bio 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.