Wexford Capital LP Has $1.49 Million Position in Nuvation Bio Inc. (NYSE:NUVB)

Wexford Capital LP increased its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 930.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 651,767 shares of the company’s stock after acquiring an additional 588,500 shares during the period. Wexford Capital LP owned about 0.26% of Nuvation Bio worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NUVB. FMR LLC lifted its holdings in shares of Nuvation Bio by 1.4% in the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after acquiring an additional 416,932 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Nuvation Bio by 3.0% during 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 during the last quarter. State Street Corp increased its holdings in shares of Nuvation Bio by 4.8% during the third quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after buying an additional 191,031 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Nuvation Bio by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock valued at $3,192,000 after acquiring an additional 60,590 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 820,669 shares in the last quarter. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Trading Up 0.7 %

Shares of NUVB stock opened at $2.77 on Friday. Nuvation Bio Inc. has a 1-year low of $1.27 and a 1-year high of $4.16. The stock has a market cap of $932.29 million, a price-to-earnings ratio of -1.28 and a beta of 1.46. The stock has a 50-day moving average of $2.52 and a 200-day moving average of $2.86.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $0.73 million for the quarter. Sell-side analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In other Nuvation Bio news, Director Robert Mashal purchased 100,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $220,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.07% of the company’s stock.

Wall Street Analyst Weigh In

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