Nuvation Bio Inc. (NYSE:NUVB - Free Report) - Stock analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for Nuvation Bio in a research report issued to clients and investors on Thursday, November 7th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.35) per share for the year, down from their prior forecast of ($0.24). Wedbush currently has a "Outperform" rating and a $5.00 price target on the stock. The consensus estimate for Nuvation Bio's current full-year earnings is ($0.40) per share. Wedbush also issued estimates for Nuvation Bio's Q4 2024 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.13) EPS, FY2025 earnings at ($0.61) EPS, FY2026 earnings at ($0.60) EPS, FY2027 earnings at ($0.34) EPS and FY2028 earnings at ($0.03) EPS.
A number of other research analysts also recently issued reports on the company. Royal Bank of Canada boosted their price objective on Nuvation Bio from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Thursday. HC Wainwright decreased their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $6.60.
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Nuvation Bio Price Performance
NYSE NUVB traded up $0.12 during mid-day trading on Monday, reaching $3.01. The stock had a trading volume of 4,130,071 shares, compared to its average volume of 1,464,238. The company has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.91. The stock has a market cap of $748.98 million, a PE ratio of -1.33 and a beta of 1.35. Nuvation Bio has a 1 year low of $1.21 and a 1 year high of $4.16.
Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Nuvation Bio during the 1st quarter valued at about $79,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Nuvation Bio in the first quarter valued at approximately $105,000. Vanguard Group Inc. grew its stake in shares of 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 during the period. Acadian Asset Management LLC increased its holdings in shares of Nuvation Bio by 81.9% during 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of 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 purchasing an additional 1,146,794 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.
Insider Transactions at Nuvation Bio
In other news, Director Robert Mashal bought 100,000 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now directly owns 100,000 shares of the company's stock, valued at approximately $220,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.07% of the company's stock.
About Nuvation Bio
(
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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.
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