Profund Advisors LLC Takes Position in Nuvation Bio Inc. (NYSE:NUVB)

Profund Advisors LLC purchased a new position in Nuvation Bio Inc. (NYSE:NUVB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 21,720 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NUVB. Dimensional Fund Advisors LP boosted its position in shares of Nuvation Bio by 415.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock worth $2,975,000 after buying an additional 820,669 shares during the period. WINTON GROUP Ltd bought a new stake in Nuvation Bio during the 2nd quarter valued at $89,000. American Century Companies Inc. boosted its position in Nuvation Bio by 120.4% during the 2nd quarter. American Century Companies Inc. now owns 243,358 shares of the company’s stock worth $711,000 after acquiring an additional 132,939 shares during the period. Choreo LLC bought a new position in shares of Nuvation Bio in the second quarter worth $47,000. Finally, Arizona State Retirement System acquired a new position in shares of Nuvation Bio during the second quarter valued at $110,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NUVB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Wednesday, September 11th. Finally, HC Wainwright lowered their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Buy” and an average price target of $6.40.

Nuvation Bio Trading Down 4.2 %

NYSE:NUVB opened at $2.29 on Tuesday. The company has a 50-day moving average of $3.01 and a 200-day moving average of $3.02. The firm has a market cap of $566.02 million, a price-to-earnings ratio of -7.39 and a beta of 1.38. Nuvation Bio Inc. has a twelve month low of $0.95 and a twelve month high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The company had revenue of $1.44 million for the quarter. On average, research analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Nuvation Bio 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.