Beacon Pointe Advisors LLC Makes New Investment in Nuvation Bio Inc. (NYSE:NUVB)

Beacon Pointe Advisors LLC acquired a new stake in Nuvation Bio Inc. (NYSE:NUVB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 53,550 shares of the company’s stock, valued at approximately $142,000.

A number of other institutional investors have also modified their holdings of the company. Forum Financial Management LP acquired a new position in Nuvation Bio during the fourth quarter valued at approximately $29,000. Cerity Partners LLC acquired a new position in shares of Nuvation Bio during the 4th quarter valued at $31,000. Russell Investments Group Ltd. boosted its position in Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after purchasing an additional 15,791 shares during the period. Abacus Planning Group Inc. acquired a new stake in Nuvation Bio in the 4th quarter valued at $44,000. Finally, Cibc World Markets Corp acquired a new stake in Nuvation Bio in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Insider Buying and Selling at Nuvation Bio

In other news, CEO David Hung acquired 200,000 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the completion of the purchase, the chief executive officer now directly owns 58,481,054 shares of the company’s stock, valued at $97,078,549.64. This represents a 0.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.93% of the stock is currently owned by insiders.

Nuvation Bio Trading Down 2.8 %

Nuvation Bio stock opened at $2.39 on Tuesday. The stock has a 50 day moving average of $1.97 and a 200-day moving average of $2.37. The stock has a market cap of $809.44 million, a P/E ratio of -1.10 and a beta of 1.42. Nuvation Bio Inc. has a 52 week low of $1.54 and a 52 week high of $3.97.

Wall Street Analyst Weigh In

NUVB has been the subject of several analyst reports. Jones Trading initiated coverage on Nuvation Bio in a research report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Citigroup initiated coverage on shares of Nuvation Bio in a research note on Wednesday, April 23rd. They set an “outperform” rating on the stock. JMP Securities initiated coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set a “market outperform” rating and a $6.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a report on Thursday, March 27th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.83.

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.