Abacus Planning Group Inc. Acquires Shares of 16,611 Nuvation Bio Inc. (NYSE:NUVB)

Abacus Planning Group Inc. acquired a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,611 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors have also bought and sold shares of the business. Palumbo Wealth Management LLC lifted its position in Nuvation Bio by 297.4% during the fourth quarter. Palumbo Wealth Management LLC now owns 65,360 shares of the company’s stock valued at $174,000 after purchasing an additional 48,914 shares during the last quarter. Peapod Lane Capital LLC bought a new position in Nuvation Bio during the fourth quarter valued at $1,042,000. JPMorgan Chase & Co. lifted its position in Nuvation Bio by 479.1% during the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock valued at $1,014,000 after purchasing an additional 366,429 shares during the last quarter. Geode Capital Management LLC lifted its position in Nuvation Bio by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after purchasing an additional 196,247 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new position in Nuvation Bio during the third quarter valued at $2,790,000. Institutional investors own 61.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NUVB. HC Wainwright increased their target price on shares of Nuvation Bio from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Monday, January 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $8.20.

Nuvation Bio Price Performance

Shares of NUVB opened at $2.30 on Thursday. Nuvation Bio Inc. has a 1-year low of $1.67 and a 1-year high of $4.16. The company has a 50-day moving average of $2.58 and a 200 day moving average of $2.66. The firm has a market capitalization of $773.44 million, a price-to-earnings ratio of -1.06 and a beta of 1.45.

Nuvation Bio Profile

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.