California State Teachers Retirement System Boosts Stock Position in Nuvation Bio Inc. $NUVB

California State Teachers Retirement System increased its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 42.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,784 shares of the company’s stock after purchasing an additional 90,114 shares during the period. California State Teachers Retirement System’s holdings in Nuvation Bio were worth $1,303,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Rangeley Capital LLC bought a new position in Nuvation Bio during the second quarter valued at $25,000. Parallel Advisors LLC grew its stake in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Nuvation Bio in the 2nd quarter worth $29,000. Captrust Financial Advisors bought a new stake in shares of Nuvation Bio in the 2nd quarter worth about $32,000. Finally, KBC Group NV bought a new stake in shares of Nuvation Bio in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NUVB shares. HC Wainwright increased their price target on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 27th. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a research note on Thursday, July 23rd. Truist Financial upped their price objective on Nuvation Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research note on Wednesday, June 10th. Finally, Zacks Research upgraded Nuvation Bio from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $6.11 on Friday. The firm has a 50-day moving average price of $5.87 and a 200-day moving average price of $5.25. The firm has a market capitalization of $2.13 billion, a PE ratio of -13.89 and a beta of 1.52. The company has a current ratio of 8.37, a quick ratio of 8.14 and a debt-to-equity ratio of 0.96. Nuvation Bio Inc. has a 12-month low of $2.57 and a 12-month high of $9.75.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. The firm had revenue of $31.69 million for the quarter, compared to the consensus estimate of $27.03 million. As a group, equities research analysts forecast that Nuvation Bio Inc. will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Philippe Sauvage sold 47,668 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.01, for a total value of $286,484.68. Following the sale, the chief financial officer directly owned 12,673 shares in the company, valued at approximately $76,164.73. This represents a 79.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stacy Markel sold 125,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $6.03, for a total value of $753,750.00. Following the completion of the sale, the insider owned 32,591 shares in the company, valued at approximately $196,523.73. The trade was a 79.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 235,668 shares of company stock worth $1,419,495 over the last three months. 30.11% of the stock is currently owned by corporate insiders.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.