NEOS Investment Management LLC Has $934,000 Stake in Nuvation Bio Inc. $NUVB

NEOS Investment Management LLC lifted its stake in Nuvation Bio Inc. (NYSE:NUVB) by 80.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 252,522 shares of the company’s stock after purchasing an additional 112,874 shares during the quarter. NEOS Investment Management LLC’s holdings in Nuvation Bio were worth $934,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Rangeley Capital LLC bought a new position in Nuvation Bio during the 2nd quarter worth $25,000. Cetera Investment Advisers acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth $29,000. Captrust Financial Advisors bought a new position in shares of Nuvation Bio in the second quarter worth $32,000. Atria Investments Inc acquired a new position in Nuvation Bio in the second quarter valued at about $42,000. Finally, HBK Sorce Advisory LLC acquired a new position in Nuvation Bio in the third quarter valued at about $42,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Price Performance

NUVB stock opened at $5.45 on Friday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -8.51 and a beta of 1.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.48 and a quick ratio of 8.39. The company has a 50 day simple moving average of $7.04 and a 200 day simple moving average of $5.37. Nuvation Bio Inc. has a 1 year low of $1.54 and a 1 year high of $9.75.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NUVB shares. Truist Financial set a $13.00 price objective on shares of Nuvation Bio in a research note on Tuesday, January 27th. HC Wainwright cut their price target on shares of Nuvation Bio from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. Citigroup restated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Insider Activity

In other news, insider Dongfang Liu sold 150,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.82, for a total value of $1,173,000.00. Following the completion of the transaction, the insider directly owned 18,000 shares in the company, valued at approximately $140,760. This represents a 89.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.93% of the company’s stock.

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.