Nuvation Bio (NYSE:NUVB) Stock Rating Reaffirmed by Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Tuesday, Benzinga reports. They currently have a $5.00 price target on the stock. Wedbush’s price target suggests a potential upside of 115.05% from the company’s previous close. Wedbush also issued estimates for Nuvation Bio’s FY2028 earnings at ($0.01) EPS.

Several other research analysts also recently commented on the stock. HC Wainwright decreased their price target on shares of 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 reiterated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.40.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $2.33 on Tuesday. Nuvation Bio has a fifty-two week low of $0.95 and a fifty-two week high of $4.16. The stock has a market cap of $579.48 million, a P/E ratio of -1.11 and a beta of 1.36. The firm’s fifty day moving average price is $2.70 and its 200-day moving average price is $2.95.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results 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 during the quarter. On average, analysts predict that Nuvation Bio will post -0.4 earnings per share for the current year.

Insider Transactions at Nuvation Bio

In other news, Director Robert Mashal purchased 100,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average price of $2.20 per share, with a total value of $220,000.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new position in Nuvation Bio during the 1st quarter valued at $79,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Nuvation Bio during the 1st quarter valued at approximately $105,000. Vanguard Group Inc. grew its holdings 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 acquiring an additional 219,533 shares during the period. Acadian Asset Management LLC raised its position in shares of 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 acquiring 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. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.