Assenagon Asset Management S.A. trimmed its position in shares of Nuvation Bio Inc. (NYSE:NUVB – Free Report) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,379 shares of the company’s stock after selling 42,335 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.11% of Nuvation Bio worth $310,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NUVB. Clarius Group LLC bought a new stake in shares of Nuvation Bio during the 3rd quarter worth $26,000. Centiva Capital LP bought a new stake in shares of Nuvation Bio during the 4th quarter worth approximately $26,000. Royal Bank of Canada lifted its stake in Nuvation Bio by 133.4% in the 2nd quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock valued at $27,000 after purchasing an additional 8,687 shares during the last quarter. Virtu Financial LLC bought a new position in Nuvation Bio in the 4th quarter valued at approximately $31,000. Finally, ProShare Advisors LLC increased its position in Nuvation Bio by 38.3% in the 2nd quarter. ProShare Advisors LLC now owns 18,946 shares of the company’s stock valued at $34,000 after acquiring an additional 5,246 shares during the period. 63.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Nuvation Bio in a research note on Wednesday, November 22nd.
Nuvation Bio Trading Up 1.2 %
Shares of Nuvation Bio stock opened at $1.64 on Thursday. The firm has a market cap of $359.06 million, a P/E ratio of -4.32 and a beta of 1.14. Nuvation Bio Inc. has a 12 month low of $0.95 and a 12 month high of $2.32. The stock’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.47.
About Nuvation Bio
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 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 that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.
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