Acuitas Investments LLC Purchases 143,972 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Acuitas Investments LLC increased its stake in Nuvation Bio Inc. (NYSE:NUVB) by 45.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 460,471 shares of the company’s stock after purchasing an additional 143,972 shares during the quarter. Acuitas Investments LLC’s holdings in Nuvation Bio were worth $661,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Clarius Group LLC bought a new position in shares of Nuvation Bio in the third quarter valued at approximately $26,000. TD Asset Management Inc increased its position in shares of Nuvation Bio by 100.0% during the 3rd quarter. TD Asset Management Inc now owns 105,600 shares of the company’s stock valued at $142,000 after purchasing an additional 52,800 shares during the last quarter. SG Americas Securities LLC raised its stake in Nuvation Bio by 921.4% in the third quarter. SG Americas Securities LLC now owns 110,226 shares of the company’s stock worth $148,000 after buying an additional 99,434 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Nuvation Bio by 258.9% during the 3rd quarter. Acadian Asset Management LLC now owns 113,717 shares of the company’s stock valued at $150,000 after acquiring an additional 82,031 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Nuvation Bio by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after acquiring an additional 27,346 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Analysts Set New Price Targets

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

Nuvation Bio Stock Performance

Shares of NYSE NUVB traded up $0.05 during midday trading on Friday, reaching $2.67. 209,574 shares of the stock were exchanged, compared to its average volume of 1,176,807. Nuvation Bio Inc. has a 52-week low of $0.95 and a 52-week high of $4.16. The stock has a 50 day moving average price of $2.56 and a 200-day moving average price of $1.81.

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

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.