Peapod Lane Capital LLC Takes Position in Nuvation Bio Inc. (NYSE:NUVB)

Peapod Lane Capital LLC purchased a new position in shares of Nuvation Bio Inc. (NYSE:NUVB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 391,745 shares of the company’s stock, valued at approximately $1,042,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zacks Investment Management grew its holdings in Nuvation Bio by 21.5% in the third quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock valued at $83,000 after purchasing an additional 6,394 shares during the period. Intech Investment Management LLC acquired a new stake in Nuvation Bio in the 3rd quarter valued at $132,000. Quantbot Technologies LP acquired a new stake in Nuvation Bio in the 3rd quarter valued at $165,000. SG Americas Securities LLC increased its holdings in Nuvation Bio by 125.8% in the 3rd quarter. SG Americas Securities LLC now owns 72,057 shares of the company’s stock worth $165,000 after acquiring an additional 40,141 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Nuvation Bio during the third quarter worth $172,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.29 on Thursday. Nuvation Bio Inc. has a twelve month low of $1.65 and a twelve month high of $4.16. The company’s 50-day moving average price is $2.63 and its 200-day moving average price is $2.70.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NUVB. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Monday, January 6th. Finally, HC Wainwright increased their target price on Nuvation Bio from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $8.20.

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.