Nuvation Bio Inc. (NYSE:NUVB) CEO David Hung Acquires 200,000 Shares

Nuvation Bio Inc. (NYSE:NUVB) CEO David Hung purchased 200,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $1.66 per share, for a total transaction of $332,000.00. Following the purchase, the chief executive officer now owns 58,481,054 shares of the company’s stock, valued at approximately $97,078,549.64. This trade represents a 0.34 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

David Hung also recently made the following trade(s):

• On Monday, April 7th, David Hung bought 300,000 shares of Nuvation Bio stock. The stock was bought at an average price of $1.62 per share, for a total transaction of $486,000.00.

Nuvation Bio Stock Performance

Shares of NUVB opened at $1.78 on Thursday. Nuvation Bio Inc. has a one year low of $1.54 and a one year high of $3.97. The stock has a market capitalization of $602.85 million, a price-to-earnings ratio of -0.82 and a beta of 1.47. The stock has a 50 day moving average price of $2.03 and a 200 day moving average price of $2.40.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Nuvation Bio by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company’s stock valued at $276,000 after purchasing an additional 5,693 shares during the last quarter. Two Sigma Investments LP lifted its stake in Nuvation Bio by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company’s stock worth $3,062,000 after acquiring an additional 5,925 shares in the last quarter. Zacks Investment Management lifted its stake in Nuvation Bio by 21.5% during the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after acquiring an additional 6,394 shares in the last quarter. LPL Financial LLC lifted its stake in Nuvation Bio by 27.0% during the 4th quarter. LPL Financial LLC now owns 31,348 shares of the company’s stock worth $83,000 after acquiring an additional 6,673 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Nuvation Bio by 2.3% during the 4th quarter. Invesco Ltd. now owns 330,388 shares of the company’s stock worth $879,000 after acquiring an additional 7,344 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright lowered their price target on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 10th. Jones Trading assumed coverage on Nuvation Bio in a report on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Thursday, March 27th.

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.