Nuvation Bio (NYSE:NUVB) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $5.00 price target on the stock. Wedbush also issued estimates for Nuvation Bio’s Q3 2024 earnings at ($0.12) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.62) EPS, FY2026 earnings at ($0.58) EPS, FY2027 earnings at ($0.32) EPS and FY2028 earnings at ($0.01) EPS.

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

Nuvation Bio Stock Performance

Shares of NUVB opened at $2.19 on Tuesday. The stock has a market capitalization of $541.30 million, a PE ratio of -7.06 and a beta of 1.36. The company has a 50 day moving average price of $2.67 and a 200-day moving average price of $2.93. Nuvation Bio has a fifty-two week low of $0.95 and a fifty-two week high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The business had revenue of $1.44 million during the quarter. Equities research analysts forecast that Nuvation Bio will post -0.41 EPS for the current year.

Insider Activity at Nuvation Bio

In related news, Director Robert Mashal bought 100,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the transaction, 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 accessible through this hyperlink. 36.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors have recently bought and sold shares of NUVB. Price T Rowe Associates Inc. MD raised its holdings in shares of Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after purchasing an additional 1,146,794 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Nuvation Bio by 415.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock worth $2,975,000 after buying an additional 820,669 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Nuvation Bio by 254.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after buying an additional 537,314 shares in the last quarter. Acadian Asset Management LLC grew its stake in 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 acquiring an additional 528,660 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in Nuvation Bio by 198.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock worth $1,850,000 after acquiring an additional 421,563 shares in the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.