JPMorgan Chase & Co. Increases Holdings in Nuvation Bio Inc. (NYSE:NUVB)

JPMorgan Chase & Co. significantly increased its investment in Nuvation Bio Inc. (NYSE:NUVB) by 479.1% during the third quarter, according to their latest report to the Securities and Exchange Commission. After acquiring an extra 366,429 shares in the quarter, JPMorgan Chase & Co. now holds a total of 442,913 shares. The value of these shares amounts to approximately $1,014,000, which accounts for about 0.13% of Nuvation Bio.

Other institutional investors have also shown interest in Nuvation Bio recently. For example, State Street Corp increased its stake in Nuvation Bio by 4.8% in the same quarter, now owning 4,166,441 shares valued at $9,541,000 after acquiring an additional 191,031 shares. Wellington Management Group LLP raised its position by a noteworthy 83.3%, bringing its total to 623,973 shares worth $1,429,000 after purchasing an additional 283,642 shares.

Geode Capital Management LLC also increased its holdings in Nuvation Bio by 5.1%, now owning 4,028,692 shares valued at $9,227,000 after purchasing 196,247 additional shares. Dimensional Fund Advisors LP made a remarkable leap, growing its position by 415.2% in the second quarter to reach 1,018,329 shares valued at $2,975,000 after acquiring 820,669 extra shares. Additionally, Point72 Asset Management L.P. acquired a new stake worth about $634,000 during the third quarter.

As a result, institutional investors and hedge funds collectively own around 61.67% of Nuvation Bio's stock.

Nuvation Bio Stock Performance

As of Friday, Nuvation Bio shares were trading at $2.52. The company currently boasts a market capitalization of $846.47 million, with a price-to-earnings ratio of -1.16 and a beta of 1.47. The stock has a 50-day simple moving average of $2.74 and a 200-day simple moving average of $2.79. Over the past year, Nuvation Bio's stock has seen a low of $1.52 and a high of $4.16.

In its last quarterly earnings report, Nuvation Bio announced on November 6th that it had an earnings per share (EPS) of ($0.15), missing analysts' expectations of ($0.13) by $0.02. The company reported revenue of $0.73 million for that quarter. According to analysts, Nuvation Bio is expected to report an EPS of -0.36 for the current fiscal year.

Analysts' Perspectives

Learn More About Nuvation Bio

Company Overview

Nuvation Bio Inc. is a clinical-stage biopharmaceutical company focused on developing new therapeutic candidates for cancer treatment. Its lead product candidate is NUV-868, a small molecule BET inhibitor designed to regulate proteins involved in tumor growth and differentiation. Other notable candidates include NUV-1156, which targets advanced prostate cancer, NUV-1176, a PARP inhibitor for breast and ovarian cancers, and a drug-drug conjugate platform aimed at delivering anti-cancer therapies directly to cancer cells.

Conclusion

With a steady increase in institutional investments and positive forecasts from brokerage firms, Nuvation Bio Inc. is garnering interest from both investors and analysts. However, the company's earnings performance and future projections remain a point of observation for potential investors.

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