LPL Financial LLC Boosts Stake in Nuvation Bio Inc. (NYSE:NUVB)

LPL Financial LLC raised its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 27.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,348 shares of the company’s stock after purchasing an additional 6,673 shares during the quarter. LPL Financial LLC’s holdings in Nuvation Bio were worth $83,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NUVB. Abacus Planning Group Inc. bought a new stake in Nuvation Bio in the fourth quarter worth $44,000. Cibc World Markets Corp purchased a new position in shares of Nuvation Bio in the 4th quarter worth $45,000. Ieq Capital LLC bought a new stake in shares of Nuvation Bio in the 4th quarter worth about $98,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Nuvation Bio during the 4th quarter valued at about $116,000. Finally, Arizona State Retirement System lifted its holdings in shares of Nuvation Bio by 47.2% in the 4th quarter. Arizona State Retirement System now owns 62,964 shares of the company’s stock valued at $167,000 after acquiring an additional 20,176 shares during the last quarter. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.28 on Friday. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $3.97. The firm has a market capitalization of $770.49 million, a P/E ratio of -1.05 and a beta of 1.47. The company’s fifty day moving average price is $1.95 and its 200-day moving average price is $2.37.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NUVB shares. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Thursday, March 27th. JMP Securities began coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They set a “market outperform” rating and a $6.00 target price for the company. Jones Trading started coverage on Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective on the stock. HC Wainwright reduced their price objective on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.83.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, CEO David Hung purchased 200,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $1.66 per share, with a total value of $332,000.00. Following the acquisition, the chief executive officer now owns 58,481,054 shares of the company’s stock, valued at $97,078,549.64. This trade represents a 0.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 29.93% of the company’s stock.

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.