Meridian Wealth Management LLC Increases Holdings in Nuvation Bio Inc. (NYSE:NUVB)

Meridian Wealth Management LLC grew its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 47.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 82,840 shares of the company’s stock after buying an additional 26,495 shares during the quarter. Meridian Wealth Management LLC’s holdings in Nuvation Bio were worth $190,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Nuvation Bio by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after acquiring an additional 219,533 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Nuvation Bio by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock worth $3,192,000 after purchasing an additional 60,590 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Nuvation Bio by 551.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after purchasing an additional 1,146,794 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nuvation Bio by 415.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after buying an additional 820,669 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Nuvation Bio by 254.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock worth $2,726,000 after buying an additional 537,314 shares during the period. 61.67% of the stock is currently owned by institutional investors.

Nuvation Bio Trading Up 3.2 %

Nuvation Bio stock opened at $2.89 on Tuesday. Nuvation Bio Inc. has a 12 month low of $1.22 and a 12 month high of $4.16. The company has a market capitalization of $972.69 million, a price-to-earnings ratio of -1.33 and a beta of 1.35. The business’s fifty day simple moving average is $2.50 and its two-hundred day simple moving average is $2.88.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. On average, equities research analysts predict that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $220,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NUVB has been the topic of a number of research analyst reports. HC Wainwright reduced their target price on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada increased their price objective on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $6.60.

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.