Cibc World Markets Corp Purchases Shares of 16,967 Nuvation Bio Inc. (NYSE:NUVB)

Cibc World Markets Corp bought a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,967 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Abacus Planning Group Inc. bought a new position in Nuvation Bio during the fourth quarter valued at $44,000. Zacks Investment Management lifted its holdings in shares of Nuvation Bio by 21.5% in the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock valued at $83,000 after acquiring an additional 6,394 shares during the last quarter. Ieq Capital LLC purchased a new position in Nuvation Bio in the fourth quarter worth about $98,000. Intech Investment Management LLC bought a new stake in Nuvation Bio during the third quarter worth approximately $132,000. Finally, Quantbot Technologies LP bought a new stake in shares of Nuvation Bio in the 3rd quarter valued at approximately $165,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. HC Wainwright cut their target price on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Jones Trading began coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Thursday.

Nuvation Bio Trading Down 0.3 %

NYSE:NUVB opened at $1.88 on Friday. The stock has a fifty day simple moving average of $2.20 and a 200-day simple moving average of $2.49. The company has a market cap of $635.02 million, a price-to-earnings ratio of -0.86 and a beta of 1.47. Nuvation Bio Inc. has a twelve month low of $1.71 and a twelve month high of $4.16.

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.