Nuvation Bio (NYSE:NUVB) Releases Earnings Results, Misses Expectations By $0.02 EPS

Nuvation Bio (NYSE:NUVB) released its quarterly earnings results 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 business had revenue of $0.73 million for the quarter.

Nuvation Bio Trading Up 9.9 %

NUVB traded up $0.26 during trading on Friday, reaching $2.88. The stock had a trading volume of 3,719,613 shares, compared to its average volume of 1,563,951. The company has a market capitalization of $717.81 million, a price-to-earnings ratio of -1.33 and a beta of 1.35. The stock’s 50 day moving average is $2.55 and its two-hundred day moving average is $2.90. Nuvation Bio has a one year low of $1.21 and a one year high of $4.16.

Insiders Place Their Bets

In other news, Director Robert Mashal purchased 100,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $2.20 per share, for a total transaction 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NUVB. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research report on Thursday. Royal Bank of Canada raised their price objective on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, HC Wainwright decreased their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock 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.