David Hung Purchases 300,000 Shares of Nuvation Bio Inc. (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) CEO David Hung acquired 300,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average price of $1.62 per share, for a total transaction of $486,000.00. Following the completion of the transaction, the chief executive officer now owns 58,781,054 shares in the company, valued at $95,225,307.48. The trade was a 0.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

David Hung also recently made the following trade(s):

• On Friday, April 4th, David Hung purchased 200,000 shares of Nuvation Bio stock. The shares were bought at an average price of $1.66 per share, for a total transaction of $332,000.00.

Nuvation Bio Price Performance

Shares of NUVB opened at $1.78 on Thursday. The firm’s 50 day moving average is $2.03 and its 200-day moving average is $2.40. The stock has a market capitalization of $602.85 million, a P/E ratio of -0.82 and a beta of 1.47. Nuvation Bio Inc. has a 12-month low of $1.54 and a 12-month high of $3.97.

Analyst Ratings Changes

A number of analysts have commented on the stock. HC Wainwright dropped their price target on shares of 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 set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, March 27th. Jones Trading assumed coverage on shares of Nuvation Bio in a research report on Wednesday, March 12th. They set a “buy” rating and a $10.00 price target on the stock. 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.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after purchasing an additional 191,031 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Nuvation Bio by 83.3% in the 3rd quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock worth $1,429,000 after purchasing an additional 283,642 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Nuvation Bio by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock worth $9,227,000 after acquiring an additional 196,247 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Nuvation Bio by 479.1% in the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock worth $1,014,000 after acquiring an additional 366,429 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new position in shares of Nuvation Bio in the fourth quarter worth approximately $1,042,000. Institutional investors and hedge funds own 61.67% 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.