Nuvation Bio (NYSE:NUVB) Issues Quarterly Earnings Results

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

Nuvation Bio Stock Up 2.8 %

NUVB traded up $0.07 on Thursday, reaching $2.61. The company’s stock had a trading volume of 2,765,873 shares, 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 stock has a 50 day moving average of $2.57 and a two-hundred day moving average of $2.90. The company has a market capitalization of $650.53 million, a price-to-earnings ratio of -1.24 and a beta of 1.35.

Insiders Place Their Bets

In related news, Director Robert Mashal purchased 100,000 shares of Nuvation Bio stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $220,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NUVB has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Thursday. Royal Bank of Canada upped their price target on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, HC Wainwright decreased their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Nuvation Bio presently has an average rating of “Buy” and an average target price of $6.60.

Nuvation Bio Company Profile

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.