Intellectus Partners LLC Sells 32,996 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Intellectus Partners LLC cut its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 15.4% during the 4th quarter, Holdings Channel reports. The fund owned 181,122 shares of the company’s stock after selling 32,996 shares during the period. Intellectus Partners LLC’s holdings in Nuvation Bio were worth $273,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NUVB. Assenagon Asset Management S.A. raised its holdings in Nuvation Bio by 219.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 738,831 shares of the company’s stock worth $1,116,000 after buying an additional 507,452 shares during the last quarter. Acuitas Investments LLC grew its stake in Nuvation Bio by 45.5% in the 4th quarter. Acuitas Investments LLC now owns 460,471 shares of the company’s stock valued at $661,000 after purchasing an additional 143,972 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Nuvation Bio by 69.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,174 shares of the company’s stock valued at $370,000 after purchasing an additional 112,891 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Nuvation Bio by 56.1% during the 3rd quarter. Hsbc Holdings PLC now owns 174,827 shares of the company’s stock worth $238,000 after purchasing an additional 62,844 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Nuvation Bio by 258.9% in the 3rd quarter. Acadian Asset Management LLC now owns 113,717 shares of the company’s stock worth $150,000 after buying an additional 82,031 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $2.95 on Tuesday. The business has a 50-day simple moving average of $2.61 and a 200 day simple moving average of $1.84. Nuvation Bio Inc. has a 52 week low of $0.95 and a 52 week high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Analysts forecast that Nuvation Bio Inc. will post -0.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on NUVB. Jefferies Financial Group raised shares of Nuvation Bio from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1.40 to $10.00 in a research report on Wednesday, March 27th. BTIG Research upgraded Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Tuesday, March 26th. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Friday, March 1st. Royal Bank of Canada upped their price objective on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, HC Wainwright upped their price target on shares of Nuvation Bio from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio has a consensus rating of “Buy” and a consensus price target of $6.60.

About Nuvation Bio

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.