Nuvation Bio (NYSE:NUVB) Issues Quarterly Earnings Results

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

Nuvation Bio Stock Up 2.8 %

Nuvation Bio 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. Nuvation Bio has a fifty-two week low of $1.21 and a fifty-two week high of $4.16. The firm has a market capitalization of $650.53 million, a P/E ratio of -1.24 and a beta of 1.35. The company’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.90.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NUVB shares. HC Wainwright cut their price target 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. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a report on Thursday. Finally, Royal Bank of Canada upped their price target on Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday. Five analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio has an average rating of “Buy” and an average price target of $6.60.

Insider Buying and Selling at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.07% 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.