Federated Hermes Inc. Has $543,000 Stock Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Federated Hermes Inc. lowered its stake in Nuvation Bio Inc. (NYSE:NUVB) by 2.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 359,671 shares of the company’s stock after selling 7,643 shares during the period. Federated Hermes Inc. owned approximately 0.16% of Nuvation Bio worth $543,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Nuvation Bio by 921.4% in the 3rd quarter. SG Americas Securities LLC now owns 110,226 shares of the company’s stock valued at $148,000 after purchasing an additional 99,434 shares during the period. TD Asset Management Inc grew its stake in shares of Nuvation Bio by 100.0% in the third quarter. TD Asset Management Inc now owns 105,600 shares of the company’s stock valued at $142,000 after acquiring an additional 52,800 shares in the last quarter. Hsbc Holdings PLC increased its position in Nuvation Bio by 56.1% during the third quarter. Hsbc Holdings PLC now owns 174,827 shares of the company’s stock worth $238,000 after acquiring an additional 62,844 shares during the period. Acadian Asset Management LLC raised its stake in Nuvation Bio by 258.9% in the 3rd quarter. Acadian Asset Management LLC now owns 113,717 shares of the company’s stock worth $150,000 after purchasing an additional 82,031 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Nuvation Bio by 69.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,174 shares of the company’s stock worth $370,000 after purchasing an additional 112,891 shares in the last quarter. 61.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NUVB. HC Wainwright raised their target price on shares of Nuvation Bio from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. BTIG Research raised Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Tuesday, March 26th. Jefferies Financial Group raised Nuvation Bio from a “hold” rating to a “buy” rating and increased their target price for the stock from $1.40 to $10.00 in a report on Wednesday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Friday, March 1st. Finally, Royal Bank of Canada increased their price objective on shares of Nuvation Bio from $4.00 to $5.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $6.60.

Nuvation Bio Stock Performance

Shares of NUVB opened at $3.22 on Friday. Nuvation Bio Inc. has a 52-week low of $0.95 and a 52-week high of $4.16. The firm has a market cap of $702.12 million, a price-to-earnings ratio of -9.65 and a beta of 1.42. The business’s fifty day moving average is $2.69 and its 200-day moving average is $1.87.

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, beating analysts’ consensus estimates of ($0.10) by $0.04. As a group, research analysts forecast that Nuvation Bio Inc. will post -0.35 EPS for the current fiscal year.

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.