Nuvation Bio (NYSE:NUVB) Issues Earnings Results

Nuvation Bio (NYSE:NUVB) announced its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02), Zacks reports. The business had revenue of $0.73 million for the quarter.

Nuvation Bio Stock Up 2.8 %

Shares of NUVB stock traded up $0.07 during mid-day trading on Thursday, hitting $2.61. 2,765,873 shares of the company’s stock were exchanged, compared to its average volume of 1,441,390. The stock has a market cap of $650.53 million, a price-to-earnings ratio of -1.24 and a beta of 1.35. Nuvation Bio has a fifty-two week low of $1.21 and a fifty-two week high of $4.16. The stock has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $2.90.

Insider Activity at Nuvation Bio

In related news, Director Robert Mashal acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $2.20 per share, with a total value of $220,000.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at $220,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NUVB. HC Wainwright reduced their target price on 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 upped their price objective on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.60.

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.