Nuvation Bio Inc. (NYSE:NUVB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its position in shares of Nuvation Bio Inc. (NYSE:NUVB) by 53.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,811 shares of the company’s stock after selling 29,698 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Nuvation Bio were worth $59,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NUVB. B. Riley Wealth Advisors Inc. acquired a new stake in Nuvation Bio in the second quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its holdings in Nuvation Bio by 913.2% during the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after buying an additional 10,000 shares in the last quarter. Xponance Inc. acquired a new position in Nuvation Bio during the second quarter worth about $33,000. Caxton Associates LP purchased a new stake in shares of Nuvation Bio during the 2nd quarter worth approximately $43,000. Finally, Choreo LLC acquired a new position in Nuvation Bio during the second quarter worth $47,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Trading Down 2.7 %

Shares of NYSE:NUVB opened at $2.56 on Tuesday. Nuvation Bio Inc. has a 12-month low of $1.21 and a 12-month high of $4.16. The stock’s 50-day moving average price is $2.54 and its two-hundred day moving average price is $2.90. The firm has a market cap of $638.05 million, a price-to-earnings ratio of -1.18 and a beta of 1.35.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. As a group, research analysts forecast that Nuvation Bio Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other Nuvation Bio news, Director Robert Mashal bought 100,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $220,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.07% of the company’s stock.

Wall Street Analyst Weigh In

NUVB has been the topic of several research reports. HC Wainwright lowered their price target on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday, November 7th. Finally, Royal Bank of Canada upped their price objective on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average 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.