Nuvation Bio Inc. (NYSE:NUVB) CEO David Hung Acquires 200,000 Shares

Nuvation Bio Inc. (NYSE:NUVB) CEO David Hung bought 200,000 shares of the stock in a transaction on Friday, April 4th. The shares were bought at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the purchase, the chief executive officer now directly owns 58,481,054 shares in the company, valued at approximately $97,078,549.64. This trade represents a 0.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, April 7th, David Hung purchased 300,000 shares of Nuvation Bio stock. The shares were acquired at an average cost of $1.62 per share, with a total value of $486,000.00.

Nuvation Bio Price Performance

Shares of NUVB opened at $1.78 on Thursday. The firm has a market cap of $602.85 million, a P/E ratio of -0.82 and a beta of 1.47. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $3.97. The company has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $2.40.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, March 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Jones Trading initiated coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright reduced their target price on shares of Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Nuvation Bio by 54.9% during the 4th quarter. FMR LLC now owns 45,285,572 shares of the company’s stock valued at $120,460,000 after acquiring an additional 16,046,701 shares during the last quarter. Vanguard Group Inc. lifted its position in Nuvation Bio by 45.4% in the fourth quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company’s stock worth $41,849,000 after buying an additional 4,913,820 shares during the last quarter. Geode Capital Management LLC lifted its position in Nuvation Bio by 22.9% in the fourth quarter. Geode Capital Management LLC now owns 4,951,195 shares of the company’s stock worth $13,174,000 after buying an additional 922,503 shares during the last quarter. State Street Corp lifted its position in Nuvation Bio by 4.8% in the third quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after buying an additional 191,031 shares during the last quarter. Finally, MPM Bioimpact LLC bought a new stake in Nuvation Bio in the fourth quarter worth $11,077,000. 61.67% of the stock is currently owned by institutional investors.

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.