David Hung Buys 300,000 Shares of Nuvation Bio Inc. (NYSE:NUVB) Stock

Nuvation Bio Inc. (NYSE:NUVB) CEO David Hung bought 300,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average cost of $1.62 per share, with a total value of $486,000.00. Following the acquisition, the chief executive officer now directly owns 58,781,054 shares of the company’s stock, valued at approximately $95,225,307.48. This represents a 0.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nuvation Bio Price Performance

NYSE:NUVB traded down $0.15 during trading hours on Tuesday, hitting $1.66. The company’s stock had a trading volume of 3,701,974 shares, compared to its average volume of 1,992,391. The company has a market capitalization of $560.51 million, a P/E ratio of -0.76 and a beta of 1.47. The stock has a fifty day simple moving average of $2.05 and a 200-day simple moving average of $2.41. Nuvation Bio Inc. has a twelve month low of $1.54 and a twelve month high of $3.97.

Institutional Trading of Nuvation Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nuvation Bio during the 4th quarter valued at $27,000. Forum Financial Management LP bought a new stake in shares of Nuvation Bio during the fourth quarter worth about $29,000. Cerity Partners LLC acquired a new stake in Nuvation Bio during the 4th quarter worth approximately $31,000. Russell Investments Group Ltd. grew its holdings in Nuvation Bio by 15,183.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,895 shares of the company’s stock worth $42,000 after acquiring an additional 15,791 shares during the last quarter. Finally, Abacus Planning Group Inc. bought a new stake in Nuvation Bio during the 4th quarter worth approximately $44,000. Institutional investors own 61.67% of the company’s stock.

Analysts Set New Price Targets

NUVB has been the subject of several analyst reports. Jones Trading initiated coverage on shares of Nuvation Bio in a research note on Wednesday, March 12th. They issued a “buy” rating and a $10.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Finally, HC Wainwright reduced their target price on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 10th.

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.