Nuvation Bio (NYSE:NUVB) PT Lowered to $7.00

Nuvation Bio (NYSE:NUVB) had its target price cut by HC Wainwright from $8.00 to $7.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Nuvation Bio’s Q3 2024 earnings at ($0.14) EPS, 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.

Several other equities research analysts have also recently weighed in on NUVB. Wedbush reaffirmed an outperform rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, September 11th. Royal Bank of Canada reiterated an outperform rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $6.40.

Nuvation Bio Stock Up 1.7 %

Shares of NUVB stock opened at $2.95 on Monday. The company’s fifty day simple moving average is $3.12 and its 200-day simple moving average is $3.00. The firm has a market cap of $735.26 million, a PE ratio of -9.52 and a beta of 1.38. Nuvation Bio has a 12 month low of $0.95 and a 12 month high of $4.16.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.15) 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. On average, equities analysts predict that Nuvation Bio will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, Director Xiangmin Cui bought 336,874 shares of the stock in a transaction dated Monday, June 24th. The shares were 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 directly owns 2,175,236 shares of the company’s stock, valued at approximately $6,482,203.28. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 36.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Acadian Asset Management LLC lifted its position 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 worth $4,273,000 after buying an additional 528,660 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 worth $4,932,000 after buying an additional 1,146,794 shares during the last quarter. Octagon Capital Advisors LP bought a new stake in Nuvation Bio in the 4th quarter worth approximately $1,510,000. Finally, Panagora Asset Management Inc. lifted its position 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 buying an additional 421,563 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.