Principal Financial Group Inc. Cuts Stock Position in Nuvation Bio Inc. (NYSE:NUVB)

Principal Financial Group Inc. lessened its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 51.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,502 shares of the company’s stock after selling 13,448 shares during the period. Principal Financial Group Inc.’s holdings in Nuvation Bio were worth $29,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Nuvation Bio by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after buying an additional 219,533 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after purchasing an additional 1,146,794 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Nuvation Bio by 415.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Nuvation Bio by 254.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock worth $2,726,000 after purchasing an additional 537,314 shares during the period. Finally, Panagora Asset Management Inc. increased its position in shares of Nuvation Bio by 198.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock valued at $1,850,000 after purchasing an additional 421,563 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Up 0.3 %

NUVB stock opened at $2.90 on Wednesday. Nuvation Bio Inc. has a twelve month low of $1.22 and a twelve month high of $4.16. The firm has a market cap of $976.05 million, a price-to-earnings ratio of -1.33 and a beta of 1.35. The business’s fifty day simple moving average is $2.50 and its two-hundred day simple moving average is $2.88.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. Research analysts expect that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. HC Wainwright lowered their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a report on Thursday, November 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $6.60.

Insider Transactions at Nuvation Bio

In other news, Director Robert Mashal bought 100,000 shares of the stock in a transaction on Tuesday, October 8th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $220,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.07% of the company’s stock.

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.