Peapod Lane Capital LLC Invests $1.04 Million in Nuvation Bio Inc. (NYSE:NUVB)

Peapod Lane Capital LLC acquired a new stake in shares of Nuvation Bio Inc. (NYSE:NUVB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 391,745 shares of the company’s stock, valued at approximately $1,042,000. Peapod Lane Capital LLC owned approximately 0.12% of Nuvation Bio as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp increased its stake in Nuvation Bio by 4.8% during the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Nuvation Bio by 83.3% during the third quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock valued at $1,429,000 after buying an additional 283,642 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Nuvation Bio by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after acquiring an additional 196,247 shares during the period. JPMorgan Chase & Co. raised its stake in Nuvation Bio by 479.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock worth $1,014,000 after acquiring an additional 366,429 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Nuvation Bio during the 3rd quarter worth about $634,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Trading Up 2.7 %

NYSE NUVB opened at $2.29 on Thursday. The stock has a 50-day simple moving average of $2.63 and a two-hundred day simple moving average of $2.70. Nuvation Bio Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $4.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NUVB shares. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Finally, HC Wainwright raised their price target 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, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average 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.