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

Nuvation Bio (NYSE:NUVBGet 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 institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in Nuvation Bio by 94.9% in the 4th quarter. State Street Corp now owns 2,734,036 shares of the company’s stock valued at $23,239,000 after buying an additional 1,330,900 shares in the last quarter. Geode Capital Management LLC grew its position in Nuvation Bio by 53.1% in the 4th quarter. Geode Capital Management LLC now owns 2,157,580 shares of the company’s stock valued at $18,339,000 after buying an additional 748,225 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Nuvation Bio by 30.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 907,673 shares of the company’s stock valued at $7,716,000 after buying an additional 212,255 shares in the last quarter. Nuveen Asset Management LLC grew its position in Nuvation Bio by 72.3% in the 4th quarter. Nuveen Asset Management LLC now owns 733,109 shares of the company’s stock valued at $6,231,000 after buying an additional 307,748 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Nuvation Bio by 1,196.2% in the 4th quarter. JPMorgan Chase & Co. now owns 672,221 shares of the company’s stock valued at $5,714,000 after buying an additional 620,362 shares in the last quarter. Hedge funds and other institutional investors own 70.88% of the company’s stock.

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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Earnings History for Nuvation Bio (NYSE:NUVB)

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