Nuvation Bio (NYSE:NUVB) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Nuvation Bio (NYSE:NUVB) issued its earnings results on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04, FiscalAI reports. The business had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $65.73 million. Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%.

Nuvation Bio Trading Down 0.9%

NYSE:NUVB traded down $0.04 during trading hours on Monday, hitting $4.45. 7,640,554 shares of the stock were exchanged, compared to its average volume of 4,850,038. The company has a quick ratio of 6.81, a current ratio of 6.95 and a debt-to-equity ratio of 0.15. Nuvation Bio has a twelve month low of $1.57 and a twelve month high of $9.75. The company has a market capitalization of $1.55 billion, a P/E ratio of -7.42 and a beta of 1.51. The company’s 50 day moving average is $4.72 and its two-hundred day moving average is $5.92.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NUVB. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Nuvation Bio in a report on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Truist Financial set a $13.00 price objective on Nuvation Bio in a report on Tuesday, January 27th. UBS Group dropped their price objective on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Finally, HC Wainwright lowered their price target on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, January 12th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nuvation Bio currently has a consensus rating of “Moderate Buy” and an average target price of $11.63.

Insiders Place Their Bets

In other Nuvation Bio news, insider Kerry Wentworth sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $4.52, for a total transaction of $904,000.00. Following the sale, the insider directly owned 53,000 shares in the company, valued at approximately $239,560. This trade represents a 79.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of Nuvation Bio stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the sale, the insider owned 18,000 shares in the company, valued at $90,360. This trade represents a 73.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 286,750 shares of company stock worth $1,339,118. 30.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently bought and sold shares of NUVB. Rangeley Capital LLC bought a new position in Nuvation Bio during the 2nd quarter worth $25,000. Parallel Advisors LLC grew its position in 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 last quarter. Cetera Investment Advisers bought a new stake in Nuvation Bio during the 2nd quarter worth approximately $29,000. Captrust Financial Advisors bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at about $32,000. Finally, Focus Partners Wealth bought a new stake in shares of Nuvation Bio in the 3rd quarter valued at about $49,000. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Company Profile

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.