Research Analysts Set Expectations for Nuvation Bio Inc.’s Q2 2022 Earnings (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVBGet Rating) – Investment analysts at Wedbush boosted their Q2 2022 earnings estimates for shares of Nuvation Bio in a report issued on Tuesday, May 10th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.12) per share for the quarter, up from their prior estimate of ($0.16). Wedbush has a “Outperform” rating and a $17.00 price objective on the stock. Wedbush also issued estimates for Nuvation Bio’s Q3 2022 earnings at ($0.15) EPS, Q4 2022 earnings at ($0.17) EPS, FY2022 earnings at ($0.54) EPS, Q1 2023 earnings at ($0.20) EPS, Q2 2023 earnings at ($0.23) EPS, Q3 2023 earnings at ($0.24) EPS, Q4 2023 earnings at ($0.26) EPS, FY2023 earnings at ($0.93) EPS, FY2024 earnings at ($1.18) EPS and FY2025 earnings at ($1.38) EPS.

Nuvation Bio (NYSE:NUVBGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. During the same period last year, the company posted ($0.09) earnings per share.

NUVB has been the subject of several other research reports. BMO Capital Markets lowered their price objective on Nuvation Bio from $17.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, March 22nd. HC Wainwright assumed coverage on shares of Nuvation Bio in a research report on Wednesday, May 4th. They set a “buy” rating and a $14.00 target price for the company. Finally, Zacks Investment Research raised shares of Nuvation Bio from a “sell” rating to a “hold” rating and set a $4.50 target price for the company in a research report on Tuesday.

Nuvation Bio stock opened at $3.92 on Friday. The business has a 50 day moving average of $5.19 and a 200-day moving average of $7.18. Nuvation Bio has a 1 year low of $3.59 and a 1 year high of $15.23.

Several institutional investors have recently bought and sold shares of NUVB. State Street Corp boosted its holdings in shares of Nuvation Bio by 94.9% during the 4th quarter. State Street Corp now owns 2,734,036 shares of the company’s stock worth $23,239,000 after buying an additional 1,330,900 shares in the last quarter. EDBI Pte Ltd bought a new position in shares of Nuvation Bio during the 4th quarter worth approximately $10,799,000. Geode Capital Management LLC boosted its holdings in shares of Nuvation Bio by 53.1% during the 4th quarter. Geode Capital Management LLC now owns 2,157,580 shares of the company’s stock worth $18,339,000 after buying an additional 748,225 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Nuvation Bio by 89.8% during the 4th quarter. Northern Trust Corp now owns 1,415,446 shares of the company’s stock worth $12,031,000 after buying an additional 669,667 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Nuvation Bio by 1,196.2% during the 4th quarter. JPMorgan Chase & Co. now owns 672,221 shares of the company’s stock worth $5,714,000 after buying an additional 620,362 shares in the last quarter. Hedge funds and other institutional investors own 70.88% of the company’s stock.

In other Nuvation Bio news, major shareholder Fund V. L.P. Omega sold 2,500,000 shares of the stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $5.60, for a total transaction of $14,000,000.00. Following the completion of the sale, the insider now owns 20,457,340 shares of the company’s stock, valued at approximately $114,561,104. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 34.75% of the company’s stock.

Nuvation Bio Company Profile (Get Rating)

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-422, a small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6. It is also developing NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation; NUV-569, a differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair; NUV-1182, an adenosine receptor inhibitor; and drug-drug conjugate (DDC) platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as PARP inhibitor to address ER+ breast and ovarian cancer.

Further Reading

Earnings History and Estimates for Nuvation Bio (NYSE:NUVB)

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