Wedbush Reaffirms Outperform Rating for Nuvation Bio (NYSE:NUVB)

Wedbush reiterated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note published on Tuesday morning, Benzinga reports. Wedbush currently has a $5.00 target price 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 research analysts also recently weighed in on NUVB. HC Wainwright cut their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.40.

Nuvation Bio Stock Down 1.5 %

Shares of NUVB opened at $2.30 on Tuesday. The stock’s fifty day simple moving average is $2.68 and its 200-day simple moving average is $2.94. The firm has a market capitalization of $572.01 million, a PE ratio of -1.09 and a beta of 1.36. Nuvation Bio has a 12-month low of $0.95 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. Analysts anticipate that Nuvation Bio will post -0.41 EPS for the current year.

Insider Buying and Selling at Nuvation Bio

In other news, Director Robert Mashal acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired 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 $220,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Nuvation Bio by 551.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after buying an additional 1,146,794 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Nuvation Bio by 415.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock worth $2,975,000 after acquiring an additional 820,669 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Nuvation Bio by 254.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after purchasing an additional 537,314 shares during the last quarter. Acadian Asset Management LLC grew its stake in Nuvation Bio by 81.9% in the first 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 in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Nuvation Bio by 198.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock worth $1,850,000 after purchasing an additional 421,563 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.