Nuvation Bio (NYSE:NUVB) Issues Quarterly Earnings Results

by · The Markets Daily

Nuvation Bio (NYSE:NUVB – Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11), FiscalAI reports. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.The business had revenue of $41.87 million during the quarter, compared to the consensus estimate of $36.82 million.

Nuvation Bio Stock Performance

Shares of NYSE NUVB traded down $0.07 during trading on Monday, reaching $5.84. 6,137,819 shares of the company traded hands, compared to its average volume of 5,565,797. The stock has a market cap of $2.00 billion, a P/E ratio of -9.13 and a beta of 1.49. The firm’s fifty day simple moving average is $6.72 and its 200 day simple moving average is $5.50. The company has a current ratio of 8.48, a quick ratio of 8.39 and a debt-to-equity ratio of 0.14. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $9.75.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its position in Nuvation Bio by 9.8% in the 4th quarter. HighTower Advisors LLC now owns 22,457 shares of the company’s stock worth $201,000 after purchasing an additional 2,007 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Nuvation Bio by 17.7% in the 4th quarter. Russell Investments Group Ltd. now owns 24,456 shares of the company’s stock valued at $219,000 after purchasing an additional 3,681 shares during the period. Mackenzie Financial Corp boosted its holdings in Nuvation Bio by 38.8% during the third quarter. Mackenzie Financial Corp now owns 15,746 shares of the company’s stock worth $58,000 after buying an additional 4,400 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Nuvation Bio by 21.9% during the third quarter. Integrated Wealth Concepts LLC now owns 24,610 shares of the company’s stock valued at $91,000 after buying an additional 4,419 shares during the period. 61.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NUVB. B. Riley Financial initiated coverage on shares of Nuvation Bio in a research note on Wednesday, November 19th. They issued a “buy” rating and a $12.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a report on Thursday, January 22nd. HC Wainwright cut their target price on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. UBS Group assumed coverage on Nuvation Bio in a research note on Wednesday, January 7th. They issued a “neutral” rating and a $10.00 target price for the company. Finally, Truist Financial set a $13.00 price target on Nuvation Bio in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

View Our Latest Research Report on Nuvation Bio

Nuvation Bio Company Profile

(Get Free Report)

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.

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