Connor Clark & Lunn Investment Management Ltd. Has $909,000 Stock Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 396,736 shares of the company’s stock after acquiring an additional 32,811 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Nuvation Bio worth $909,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its position in Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after acquiring an additional 10,000 shares during the last quarter. Xponance Inc. acquired a new position in Nuvation Bio during the 2nd quarter worth approximately $33,000. Caxton Associates LP acquired a new position in Nuvation Bio during the 2nd quarter worth approximately $43,000. Finally, Choreo LLC acquired a new position in Nuvation Bio during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Stock Performance

NUVB opened at $2.89 on Thursday. Nuvation Bio Inc. has a 1-year low of $1.22 and a 1-year high of $4.16. The stock’s fifty day simple moving average is $2.50 and its 200 day simple moving average is $2.88. The stock has a market cap of $972.69 million, a PE ratio of -1.33 and a beta of 1.35.

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

Insider Activity at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $220,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 5.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, November 7th. HC Wainwright dropped their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada upped their price objective on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $6.60.

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.