Nuvation Bio (NYSE:NUVB) Announces Earnings Results

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

Nuvation Bio Price Performance

Shares of NUVB stock traded up $0.07 during trading hours on Thursday, reaching $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 1 year low of $1.21 and a 1 year high of $4.16. The company has a market cap of $650.53 million, a P/E ratio of -1.24 and a beta of 1.35. The company’s 50 day moving average is $2.57 and its two-hundred day moving average is $2.90.

Insider Buying and Selling

In other Nuvation Bio news, Director Robert Mashal bought 100,000 shares of Nuvation Bio stock in a transaction on 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 completion of the acquisition, the director now 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 through this link. 5.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on NUVB shares. 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 note on Thursday. HC Wainwright cut their price target 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. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.