Nuvation Bio Inc. to Post Q3 2024 Earnings of ($0.14) Per Share, HC Wainwright Forecasts (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) – Analysts at HC Wainwright dropped their Q3 2024 EPS estimates for shares of Nuvation Bio in a report released on Monday, September 16th. HC Wainwright analyst R. Burns now expects that the company will post earnings of ($0.14) per share for the quarter, down from their prior estimate of ($0.08). HC Wainwright currently has a “Buy” rating and a $7.00 price objective 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.

Nuvation Bio (NYSE:NUVB) last announced 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.

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

Nuvation Bio Trading Down 5.5 %

NYSE NUVB opened at $2.90 on Wednesday. The company has a fifty day simple moving average of $3.12 and a 200 day simple moving average of $3.00. The company has a market cap of $722.80 million, a P/E ratio of -9.35 and a beta of 1.38. Nuvation Bio has a 1 year low of $0.95 and a 1 year high of $4.16.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Nuvation Bio by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after acquiring an additional 219,533 shares during the period. Acadian Asset Management LLC boosted its position in shares of 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 acquiring an additional 528,660 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 acquiring an additional 1,146,794 shares during the period. Octagon Capital Advisors LP bought a new stake in shares of Nuvation Bio in the fourth quarter valued at about $1,510,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Nuvation Bio by 198.7% in the second quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock valued at $1,850,000 after acquiring an additional 421,563 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nuvation Bio

In related news, Director Xiangmin Cui purchased 336,874 shares of the business’s stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $2.98 per share, with a total value of $1,003,884.52. Following the completion of the purchase, the director now owns 2,175,236 shares in the company, valued at approximately $6,482,203.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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.