Nuvation Bio (NYSE:NUVB – Get Rating) issued its earnings results on Monday. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04, MarketWatch Earnings reports. During the same quarter last year, the firm earned ($0.09) EPS.
Nuvation Bio stock opened at $4.23 on Tuesday. The business’s 50-day moving average price is $5.22. The company has a market capitalization of $926.62 million, a price-to-earnings ratio of -9.61 and a beta of 0.70. Nuvation Bio has a one year low of $4.16 and a one year high of $15.23.
In other news, major shareholder Fund V. L.P. Omega sold 2,500,000 shares of the company’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $5.60, for a total transaction of $14,000,000.00. Following the completion of the transaction, the insider now owns 20,457,340 shares in the company, valued at $114,561,104. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.75% of the stock is currently owned by corporate insiders.
A number of analysts have weighed in on the stock. HC Wainwright assumed coverage on shares of Nuvation Bio in a report on Wednesday, May 4th. They set a “buy” rating and a $14.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $23.00 target price on shares of Nuvation Bio in a report on Tuesday, March 1st. BMO Capital Markets dropped their target price on shares of Nuvation Bio from $17.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, March 22nd. Finally, Zacks Investment Research raised shares of Nuvation Bio from a “sell” rating to a “hold” rating in a report on Tuesday.
About Nuvation Bio (Get Rating)
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-422, a small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6. It is also developing NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation; NUV-569, a differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair; NUV-1182, an adenosine receptor inhibitor; and drug-drug conjugate (DDC) platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as PARP inhibitor to address ER+ breast and ovarian cancer.
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