Acuitas Investments LLC Sells 171,576 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Acuitas Investments LLC lowered its position in Nuvation Bio Inc. (NYSE:NUVB) by 31.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,741 shares of the company’s stock after selling 171,576 shares during the period. Acuitas Investments LLC owned about 0.15% of Nuvation Bio worth $1,068,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Beacon Pointe Advisors LLC bought a new position in Nuvation Bio during the 4th quarter worth about $33,000. Principal Financial Group Inc. increased its holdings in Nuvation Bio by 58.7% during the 2nd quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock worth $76,000 after purchasing an additional 9,603 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Nuvation Bio during the 1st quarter worth about $79,000. Pinnacle Wealth Planning Services Inc. bought a new position in Nuvation Bio during the 1st quarter worth about $105,000. Finally, Arizona State Retirement System bought a new position in Nuvation Bio during the 2nd quarter worth about $110,000. Institutional investors own 61.67% of the company’s stock.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $2.88 on Friday. The firm has a 50-day moving average of $3.13 and a 200-day moving average of $2.92. Nuvation Bio Inc. has a one year low of $0.95 and a one year high of $4.16. The company has a market cap of $717.81 million, a price-to-earnings ratio of -9.29 and a beta of 1.38.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The company had revenue of $1.44 million for the quarter. As a group, sell-side analysts expect that Nuvation Bio Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NUVB shares. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Nuvation Bio in a report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Tuesday, August 6th. Finally, Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $6.60.

Insider Activity at Nuvation Bio

In other news, Director Kim D. Blickenstaff bought 172,189 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $2.90 per share, for a total transaction of $499,348.10. Following the purchase, the director now owns 172,189 shares of the company’s stock, valued at approximately $499,348.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Xiangmin Cui acquired 87,715 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was purchased at an average cost of $2.99 per share, for a total transaction of $262,267.85. Following the completion of the transaction, the director now directly owns 1,762,951 shares of the company’s stock, valued at approximately $5,271,223.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kim D. Blickenstaff acquired 172,189 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $2.90 per share, with a total value of $499,348.10. Following the completion of the transaction, the director now directly owns 172,189 shares of the company’s stock, valued at $499,348.10. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 596,778 shares of company stock worth $1,765,500. Insiders own 36.09% of the company’s stock.

Nuvation Bio Company 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.