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

Key Points

• Beat on results: Nuvation Bio reported EPS of $0.01 versus a -$0.03 consensus (beat by $0.04) and revenue of $83.23 million versus $65.73 million expected.
• Despite the beat, the company remains deeply unprofitable with a net margin of -325.31% and negative ROE of 57.48%, and the stock traded down to $4.45 on above-average volume.
• Mixed market signal: analysts' average target is $11.63 (Moderate Buy) while insiders sold 286,750 shares last quarter and institutional investors now own 61.67% of the stock.

Nuvation Bio (NYSE:NUVB - Get Free Report) released its earnings results on Monday. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.04, FiscalAI reports. The company had revenue of $83.23 million for the quarter, compared to analysts' expectations of $65.73 million. Nuvation Bio had a negative net margin of 325.31% and a negative return on equity of 57.48%.

Nuvation Bio Price Performance

NYSE NUVB traded down $0.04 during mid-day trading on Monday, hitting $4.45. The stock had a trading volume of 7,640,554 shares, compared to its average volume of 4,850,038. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -7.42 and a beta of 1.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.95 and a quick ratio of 6.81. Nuvation Bio has a twelve month low of $1.57 and a twelve month high of $9.75. The firm's 50 day moving average is $4.72 and its 200 day moving average is $5.92.

Analysts Set New Price Targets

Several research firms have recently weighed in on NUVB. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their price target on Nuvation Bio from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. HC Wainwright dropped their price objective on shares of Nuvation Bio from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, January 12th. Wedbush reaffirmed an "outperform" rating and set a $11.00 price objective on shares of Nuvation Bio in a research report on Thursday, April 16th. Finally, UBS Group lowered their price objective on Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.63.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, insider Kerry Wentworth sold 36,750 shares of the firm's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $5.01, for a total value of $184,117.50. Following the completion of the sale, the insider directly owned 53,000 shares of the company's stock, valued at $265,530. This trade represents a 40.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dongfang Liu sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the sale, the insider owned 18,000 shares of the company's stock, valued at $90,360. This represents a 73.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 286,750 shares of company stock valued at $1,339,118. 30.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Nuvation Bio by 852.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,708,553 shares of the company's stock valued at $24,270,000 after acquiring an additional 2,424,109 shares in the last quarter. Armistice Capital LLC lifted its position in Nuvation Bio by 359.2% in the third quarter. Armistice Capital LLC now owns 2,296,000 shares of the company's stock valued at $8,495,000 after purchasing an additional 1,796,000 shares during the period. Millennium Management LLC lifted its holdings in Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock valued at $6,642,000 after acquiring an additional 1,298,131 shares during the period. SymBiosis Capital Partners LLC acquired a new stake in Nuvation Bio in the fourth quarter valued at $11,200,000. Finally, Two Sigma Investments LP raised its stake in shares of Nuvation Bio by 95.7% during the 3rd quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company's stock worth $8,797,000 after buying an additional 1,162,837 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.

About Nuvation Bio

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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