Nuvation Bio Inc. $NUVB Stock Holdings Cut by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 249,925 shares of the company’s stock after selling 13,880 shares during the quarter. Rhumbline Advisers’ holdings in Nuvation Bio were worth $440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after acquiring an additional 1,298,131 shares during the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Nuvation Bio during the 1st quarter valued at $1,144,000. MPM Bioimpact LLC lifted its position in shares of Nuvation Bio by 11.7% during the 1st quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company’s stock valued at $8,188,000 after acquiring an additional 488,065 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Nuvation Bio during the 1st quarter valued at $799,000. Finally, GSA Capital Partners LLP lifted its position in shares of Nuvation Bio by 172.9% during the 1st quarter. GSA Capital Partners LLP now owns 661,052 shares of the company’s stock valued at $1,163,000 after acquiring an additional 418,799 shares during the last quarter. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Trading Down 1.7%

NYSE NUVB opened at $3.22 on Wednesday. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $4.09. The company has a current ratio of 9.39, a quick ratio of 9.38 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.10 billion, a PE ratio of -5.10 and a beta of 1.36. The firm’s fifty day simple moving average is $2.79 and its 200-day simple moving average is $2.32.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $4.83 million for the quarter, compared to the consensus estimate of $0.42 million. Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. As a group, sell-side analysts anticipate that Nuvation Bio Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Nuvation Bio from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. JMP Securities restated a “market outperform” rating and issued a $6.00 target price on shares of Nuvation Bio in a report on Wednesday, June 25th. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Nuvation Bio in a report on Friday, September 19th. Wedbush restated an “outperform” rating and issued a $6.00 target price on shares of Nuvation Bio in a report on Monday, September 8th. Finally, Royal Bank Of Canada increased their target price on Nuvation Bio from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $7.50.

Nuvation Bio 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.