SG Americas Securities LLC Sells 30,622 Shares of Nuvation Bio Inc. (NYSE:NUVB)

SG Americas Securities LLC lowered its position in Nuvation Bio Inc. (NYSE:NUVB) by 27.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,604 shares of the company’s stock after selling 30,622 shares during the quarter. SG Americas Securities LLC’s holdings in Nuvation Bio were worth $120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baupost Group LLC MA increased its stake in shares of Nuvation Bio by 21.1% during the first quarter. Baupost Group LLC MA now owns 10,443,494 shares of the company’s stock worth $54,933,000 after buying an additional 1,820,473 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Nuvation Bio by 14.8% in the first quarter. Vanguard Group Inc. now owns 12,932,460 shares of the company’s stock valued at $68,025,000 after buying an additional 1,671,908 shares during the period. Price T Rowe Associates Inc. MD raised its position in Nuvation Bio by 971.0% during the third quarter. Price T Rowe Associates Inc. MD now owns 911,533 shares of the company’s stock valued at $2,043,000 after buying an additional 826,426 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Nuvation Bio by 387.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 716,445 shares of the company’s stock valued at $3,769,000 after acquiring an additional 569,597 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Nuvation Bio by 760.3% in the 2nd quarter. Millennium Management LLC now owns 472,773 shares of the company’s stock worth $1,532,000 after acquiring an additional 417,816 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

NUVB has been the topic of several analyst reports. Royal Bank of Canada upped their target price on Nuvation Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Friday, March 1st. HC Wainwright boosted their price objective on Nuvation Bio from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. BTIG Research raised Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Tuesday, March 26th. Finally, Jefferies Financial Group upgraded Nuvation Bio from a “hold” rating to a “buy” rating and raised their price target for the stock from $1.40 to $10.00 in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Stock Down 4.5 %

NYSE:NUVB opened at $2.57 on Friday. Nuvation Bio Inc. has a 52 week low of $0.95 and a 52 week high of $4.16. The company has a fifty day moving average of $2.47 and a 200 day moving average of $1.76. The firm has a market capitalization of $560.39 million, a P/E ratio of -7.56 and a beta of 1.37.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, analysts anticipate that Nuvation Bio Inc. will post -0.35 EPS for the current year.

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 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.