FY2028 Earnings Forecast for Nuvation Bio Issued By Wedbush

Nuvation Bio Inc. (NYSE:NUVB) – Wedbush issued their FY2028 earnings estimates for shares of Nuvation Bio in a report issued on Tuesday, October 22nd. Wedbush analyst D. Nierengarten anticipates that the company will earn ($0.01) per share for the year. Wedbush has a “Outperform” rating and a $5.00 price objective on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.40) per share.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The company had revenue of $1.44 million for the quarter.

Several other analysts have also recently weighed in on the company. HC Wainwright dropped their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.40.

Nuvation Bio Stock Performance

NYSE NUVB opened at $2.41 on Wednesday. Nuvation Bio has a 52 week low of $0.95 and a 52 week high of $4.16. The stock has a market capitalization of $600.67 million, a P/E ratio of -1.14 and a beta of 1.36. The stock has a fifty day moving average of $2.70 and a 200-day moving average of $2.96.

Hedge Funds Weigh In On Nuvation Bio

Several institutional investors have recently modified their holdings of NUVB. Susquehanna Fundamental Investments LLC acquired a new stake in Nuvation Bio during the 1st quarter worth approximately $79,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Nuvation Bio in the 1st quarter worth $105,000. Vanguard Group Inc. increased its holdings in Nuvation Bio by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after purchasing an additional 219,533 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Nuvation Bio by 81.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after purchasing an additional 528,660 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Nuvation Bio by 551.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after purchasing an additional 1,146,794 shares in the last quarter. Institutional investors own 61.67% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Mashal bought 100,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at approximately $220,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.07% of the stock is owned by insiders.

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.