JPMorgan Chase & Co. Sells 322,798 Shares of Nuvation Bio Inc. (NYSE:NUVB)

JPMorgan Chase & Co. decreased its stake in Nuvation Bio Inc. (NYSE:NUVB) by 72.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,115 shares of the company’s stock after selling 322,798 shares during the quarter. JPMorgan Chase & Co.’s holdings in Nuvation Bio were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of NUVB. LPL Financial LLC grew its stake in Nuvation Bio by 27.0% in the 4th quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock worth $83,000 after acquiring an additional 6,673 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Nuvation Bio by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 518,575 shares of the company’s stock worth $1,379,000 after acquiring an additional 14,203 shares in the last quarter. Abacus Planning Group Inc. acquired a new position in shares of Nuvation Bio during the fourth quarter worth $44,000. Cibc World Markets Corp purchased a new stake in Nuvation Bio in the fourth quarter valued at about $45,000. Finally, Arizona State Retirement System boosted its stake in Nuvation Bio by 47.2% in the 4th quarter. Arizona State Retirement System now owns 62,964 shares of the company’s stock worth $167,000 after purchasing an additional 20,176 shares in the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO David Hung acquired 200,000 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $1.66 per share, with a total value of $332,000.00. Following the completion of the transaction, the chief executive officer now owns 58,481,054 shares in the company, valued at $97,078,549.64. This represents a 0.34 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 29.93% of the company’s stock.

Nuvation Bio Trading Up 8.4 %

Shares of NYSE NUVB opened at $2.46 on Friday. The stock has a market capitalization of $833.15 million, a PE ratio of -1.13 and a beta of 1.47. The stock has a fifty day simple moving average of $1.96 and a 200-day simple moving average of $2.37. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97.

Wall Street Analyst Weigh In

NUVB has been the topic of a number of recent research reports. HC Wainwright dropped 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. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Thursday, March 27th. Citizens Jmp began coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 price objective for the company. Citigroup began coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set an “outperform” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $7.83.

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.