Meridian Wealth Management LLC Increases Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Meridian Wealth Management LLC increased its stake in shares of Nuvation Bio Inc. (NYSE:NUVB) by 47.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 82,840 shares of the company’s stock after purchasing an additional 26,495 shares during the period. Meridian Wealth Management LLC’s holdings in Nuvation Bio were worth $190,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NUVB. Vanguard Group Inc. lifted its holdings in shares of Nuvation Bio by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after buying an additional 219,533 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Nuvation Bio by 551.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after purchasing an additional 1,146,794 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Nuvation Bio by 415.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Nuvation Bio by 198.7% in the second quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock worth $1,850,000 after purchasing an additional 421,563 shares during the period. Finally, Algert Global LLC raised its position in shares of Nuvation Bio by 281.0% in the second quarter. Algert Global LLC now owns 426,603 shares of the company’s stock worth $1,246,000 after buying an additional 314,635 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NUVB. Royal Bank of Canada boosted their target price on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. HC Wainwright cut their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio has a consensus rating of “Buy” and a consensus target price of $6.60.

Insider Activity

In other news, Director Robert Mashal bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $220,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 5.07% of the stock is currently owned by corporate insiders.

Nuvation Bio Stock Up 3.2 %

Shares of NUVB stock opened at $2.89 on Tuesday. The business has a 50-day moving average price of $2.50 and a two-hundred day moving average price of $2.88. Nuvation Bio Inc. has a 12-month low of $1.22 and a 12-month high of $4.16. The firm has a market cap of $972.69 million, a P/E ratio of -1.33 and a beta of 1.35.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. As a group, research analysts expect that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal 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.