Cornercap Investment Counsel Inc. Reduces Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Cornercap Investment Counsel Inc. cut its holdings in shares of Nuvation Bio Inc. (NYSE:NUVB) by 53.5% in the 3rd quarter, Holdings Channel reports. The fund owned 25,811 shares of the company’s stock after selling 29,698 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Nuvation Bio were worth $59,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NUVB. Vanguard Group Inc. increased its holdings in Nuvation Bio by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after purchasing an additional 219,533 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Nuvation Bio by 81.9% in the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after acquiring an additional 528,660 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Nuvation Bio by 551.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after acquiring an additional 1,146,794 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Nuvation Bio by 415.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock worth $2,975,000 after acquiring an additional 820,669 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Nuvation Bio by 198.7% in the 2nd 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 last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal bought 100,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 100,000 shares in the company, valued at $220,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.07% of the stock is currently owned by company insiders.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.56 on Tuesday. The firm has a market capitalization of $638.05 million, a P/E ratio of -1.18 and a beta of 1.35. The business has a 50 day simple moving average of $2.54 and a 200 day simple moving average of $2.90. Nuvation Bio Inc. has a 12-month low of $1.21 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced 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 firm had revenue of $0.73 million for the quarter. Research analysts anticipate that Nuvation Bio Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, November 7th. HC Wainwright dropped their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.