Wexford Capital LP Purchases 294,452 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Wexford Capital LP increased its stake in Nuvation Bio Inc. (NYSE:NUVB) by 45.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 946,219 shares of the company’s stock after acquiring an additional 294,452 shares during the period. Wexford Capital LP owned about 0.28% of Nuvation Bio worth $2,517,000 as of its most recent SEC filing.

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

Nuvation Bio Trading Up 0.7%

NUVB stock opened at $2.26 on Monday. The firm has a 50-day moving average of $2.00 and a two-hundred day moving average of $2.36. The firm has a market capitalization of $763.72 million, a PE ratio of -1.04 and a beta of 1.42. Nuvation Bio Inc. has a one year low of $1.54 and a one year high of $3.97.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The company had revenue of $3.08 million during the quarter, compared to analyst estimates of $0.42 million. On average, equities research analysts anticipate that Nuvation Bio Inc. will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

NUVB has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Thursday. Citigroup began coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set an “outperform” rating for the company. Citizens Jmp assumed coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued a “mkt outperform” rating and a $6.00 price objective on the stock. JMP Securities began coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set a “market outperform” rating and a $6.00 price objective on the stock. Finally, Jones Trading began coverage on shares of Nuvation Bio in a report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $7.83.

Insiders Place Their Bets

In other Nuvation Bio news, CEO David Hung purchased 200,000 shares of the business’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $1.66 per share, with a total value of $332,000.00. Following the acquisition, the chief executive officer now directly owns 58,481,054 shares of the company’s stock, valued at $97,078,549.64. This trade represents a 0.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dongfang Liu sold 20,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the transaction, the insider now directly owns 12,000 shares of the company’s stock, valued at approximately $30,000. This trade represents a 62.50% decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.93% of the company’s stock.

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.