Nuvation Bio Inc. (NYSE:NUVB) Holdings Increased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC increased its stake in Nuvation Bio Inc. (NYSE:NUVB) by 297.4% in the 4th quarter, HoldingsChannel reports. The fund owned 65,360 shares of the company’s stock after acquiring an additional 48,914 shares during the period. Palumbo Wealth Management LLC’s holdings in Nuvation Bio were worth $174,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NUVB. FMR LLC lifted its position in Nuvation Bio by 1.4% in the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after purchasing an additional 416,932 shares during the period. State Street Corp raised its stake in shares of Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock worth $9,541,000 after buying an additional 191,031 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nuvation Bio by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after buying an additional 196,247 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nuvation Bio by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock valued at $3,192,000 after buying an additional 60,590 shares during the period. Finally, Frazier Life Sciences Management L.P. bought a new position in Nuvation Bio during the third quarter valued at about $2,790,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.28 on Friday. Nuvation Bio Inc. has a 1-year low of $1.67 and a 1-year high of $4.16. The business’s fifty day moving average price is $2.61 and its 200 day moving average price is $2.68.

Analysts Set New Price Targets

NUVB has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research note on Monday, January 6th. Finally, HC Wainwright lifted their target price on shares of Nuvation Bio from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.20.

Nuvation Bio 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.