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

Nuvation Bio (NYSE:NUVB) released its quarterly earnings results on Wednesday. The company reported ($0.15) EPS 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 %

NUVB stock traded up $0.07 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. The stock has a fifty day moving average of $2.57 and a 200-day moving average of $2.90. The firm has a market cap of $650.53 million, a PE ratio of -1.24 and a beta of 1.35. Nuvation Bio has a twelve month low of $1.21 and a twelve month high of $4.16.

Analyst Upgrades and Downgrades

NUVB has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a report on Thursday. HC Wainwright dropped their target price on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.60.

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal purchased 100,000 shares of the stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.07% of the stock is owned by corporate insiders.

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.