4,164,178 Shares in Nuvation Bio Inc. (NYSE:NUVB) Bought by MPM Bioimpact LLC

MPM Bioimpact LLC acquired a new stake in Nuvation Bio Inc. (NYSE:NUVB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,164,178 shares of the company’s stock, valued at approximately $11,077,000. MPM Bioimpact LLC owned approximately 1.24% of Nuvation Bio at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc raised its holdings in Nuvation Bio by 38.8% in the fourth quarter. Legal & General Group Plc now owns 224,827 shares of the company’s stock valued at $598,000 after acquiring an additional 62,877 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Nuvation Bio by 479.1% during the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock worth $1,014,000 after buying an additional 366,429 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 period. KLP Kapitalforvaltning AS purchased a new position in Nuvation Bio during the fourth quarter valued at approximately $116,000. Finally, Peapod Lane Capital LLC acquired a new stake in Nuvation Bio in the fourth quarter valued at approximately $1,042,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Trading Up 1.9%

Shares of Nuvation Bio stock opened at $2.19 on Wednesday. The business has a 50-day moving average price of $2.00 and a two-hundred day moving average price of $2.36. Nuvation Bio Inc. has a 1-year low of $1.54 and a 1-year high of $3.97. The company has a market cap of $741.71 million, a P/E ratio of -1.01 and a beta of 1.42.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The business had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $0.42 million. Equities research analysts forecast that Nuvation Bio Inc. will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Thursday, March 27th. JMP Securities started coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They issued a “market outperform” rating and a $6.00 price objective on the stock. HC Wainwright decreased their target price on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Citigroup assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set an “outperform” rating for the company. Finally, Citizens Jmp started coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and an average target price of $7.83.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, insider Dongfang Liu sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $2.50, for a total transaction of $50,000.00. Following the completion of the transaction, the insider now owns 12,000 shares of the company’s stock, valued at approximately $30,000. This trade represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Hung purchased 200,000 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased 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 owns 58,481,054 shares in the company, valued at $97,078,549.64. This represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. 29.93% of the stock is owned by corporate insiders.

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.