Nuvation Bio (NYSE:NUVB) Releases Earnings Results, Hits Estimates

Nuvation Bio (NYSE:NUVB) released its quarterly earnings data on Monday. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11), FiscalAI reports. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The company had revenue of $41.87 million for the quarter, compared to analysts’ expectations of $36.82 million.

Nuvation Bio Stock Performance

NUVB traded down $0.07 during trading on Monday, hitting $5.84. 6,127,248 shares of the company traded hands, compared to its average volume of 5,565,797. Nuvation Bio has a one year low of $1.54 and a one year high of $9.75. The stock’s fifty day moving average is $6.72 and its 200 day moving average is $5.50. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.00 billion, a P/E ratio of -9.13 and a beta of 1.49.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NUVB. UBS Group started coverage on Nuvation Bio in a report on Wednesday, January 7th. They issued a “neutral” rating and a $10.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research report on Thursday, January 22nd. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday, November 4th. Finally, Truist Financial set a $13.00 target price on Nuvation Bio in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rangeley Capital LLC purchased a new position in Nuvation Bio in the second quarter valued at approximately $25,000. Parallel Advisors LLC grew its stake in shares of Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after acquiring an additional 2,597 shares during the period. Cetera Investment Advisers purchased a new stake in Nuvation Bio in the 2nd quarter worth about $29,000. Captrust Financial Advisors bought a new stake in Nuvation Bio in the 2nd quarter valued at about $32,000. Finally, Focus Partners Wealth purchased a new stake in Nuvation Bio during the third quarter valued at about $49,000. 61.67% of the stock is owned by institutional investors.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.