Q3 2024 EPS Estimates for Nuvation Bio Inc. Cut by HC Wainwright (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) – Research analysts at HC Wainwright reduced their Q3 2024 EPS estimates for shares of Nuvation Bio in a report issued on Monday, September 16th. HC Wainwright analyst R. Burns now forecasts that the company will earn ($0.14) per share for the quarter, down from their prior estimate of ($0.08). HC Wainwright has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Nuvation Bio’s Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.50) EPS, Q1 2025 earnings at ($0.16) EPS, Q2 2025 earnings at ($0.16) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at ($0.65) EPS.

NUVB has been the subject of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.40.

Nuvation Bio Stock Up 1.7 %

Shares of NYSE:NUVB opened at $2.95 on Wednesday. Nuvation Bio has a 52-week low of $0.95 and a 52-week high of $4.16. The company has a 50 day moving average of $3.12 and a two-hundred day moving average of $3.00. The company has a market capitalization of $735.26 million, a price-to-earnings ratio of -9.55 and a beta of 1.38.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data 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 for the quarter.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Nuvation Bio by 3.0% during the first 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 last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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. Acadian Asset Management LLC lifted its stake in Nuvation Bio by 81.9% during the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock worth $4,273,000 after purchasing an additional 528,660 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 820,669 shares during the last quarter. Finally, Octagon Capital Advisors LP bought a new position in Nuvation Bio during the fourth quarter worth $1,510,000. 61.67% of the stock is currently owned by institutional investors.

Insider Activity

In other Nuvation Bio news, Director Xiangmin Cui bought 336,874 shares of Nuvation Bio stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $2.98 per share, for a total transaction of $1,003,884.52. Following the purchase, the director now owns 2,175,236 shares in the company, valued at approximately $6,482,203.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 36.09% 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.