Nuvation Bio (NYSE:NUVB) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Nuvation Bio (NYSE:NUVB) announced its quarterly earnings data on Monday. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01, Zacks reports. Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%.

Nuvation Bio Price Performance

Shares of NYSE:NUVB traded down $0.05 on Monday, reaching $5.17. 7,376,568 shares of the company traded hands, compared to its average volume of 5,078,749. The company’s 50 day moving average is $3.63 and its 200-day moving average is $2.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.39 and a quick ratio of 9.38. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $5.55. The stock has a market capitalization of $1.77 billion, a PE ratio of -8.21 and a beta of 1.49.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 29.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds have recently bought and sold shares of NUVB. Rangeley Capital LLC acquired a new position in Nuvation Bio during the second quarter worth $25,000. Cetera Investment Advisers bought a new stake in Nuvation Bio during the second quarter valued at about $29,000. Captrust Financial Advisors bought a new stake in Nuvation Bio during the second quarter valued at about $32,000. Tower Research Capital LLC TRC boosted its holdings in Nuvation Bio by 280.6% during the second quarter. Tower Research Capital LLC TRC now owns 27,458 shares of the company’s stock valued at $54,000 after acquiring an additional 20,244 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Nuvation Bio by 113.9% during the second quarter. BNP Paribas Financial Markets now owns 28,152 shares of the company’s stock valued at $55,000 after acquiring an additional 14,989 shares during the period. 61.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NUVB shares. Wall Street Zen raised Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvation Bio in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Nuvation Bio in a report on Friday, September 19th. Wedbush reissued an “outperform” rating and issued a $6.00 price objective on shares of Nuvation Bio in a report on Monday, October 13th. Finally, Royal Bank Of Canada increased their price objective on Nuvation Bio from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.86.

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.