NEOS Investment Management LLC Buys 112,874 Shares of Nuvation Bio Inc. $NUVB

NEOS Investment Management LLC increased its stake in Nuvation Bio Inc. (NYSE:NUVB) by 80.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,522 shares of the company’s stock after buying an additional 112,874 shares during the quarter. NEOS Investment Management LLC owned approximately 0.07% of Nuvation Bio worth $934,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NUVB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nuvation Bio by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock worth $191,000 after acquiring an additional 4,608 shares in the last quarter. Millennium Management LLC increased its stake in shares of Nuvation Bio by 52.4% during the 1st quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after purchasing an additional 1,298,131 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Nuvation Bio by 20.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,486 shares of the company’s stock valued at $71,000 after purchasing an additional 6,307 shares during the period. CWM LLC lifted its stake in Nuvation Bio by 296.4% in the 2nd quarter. CWM LLC now owns 37,963 shares of the company’s stock valued at $74,000 after purchasing an additional 28,387 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in Nuvation Bio in the 2nd quarter valued at about $120,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Dongfang Liu sold 150,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $7.82, for a total transaction of $1,173,000.00. Following the transaction, the insider directly owned 18,000 shares of the company’s stock, valued at approximately $140,760. This trade represents a 89.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 29.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NUVB shares. Wedbush reissued an “outperform” rating and set a $11.00 price target on shares of Nuvation Bio in a research report on Tuesday, February 10th. Truist Financial set a $13.00 target price on Nuvation Bio in a report on Tuesday, January 27th. Royal Bank Of Canada increased their price target on Nuvation Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. UBS Group began coverage on shares of Nuvation Bio in a research report on Wednesday, January 7th. They set a “neutral” rating and a $10.00 price objective for the company. Finally, HC Wainwright decreased their price objective on shares of Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Nuvation Bio Stock Performance

Shares of NYSE NUVB opened at $5.45 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -8.51 and a beta of 1.51. The stock’s fifty day moving average price is $7.04 and its two-hundred day moving average price is $5.37. Nuvation Bio Inc. has a one year low of $1.54 and a one year high of $9.75.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.