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Nuvation Bio Stock (NYSE:NUVB), Short Interest Report

Nuvation Bio

Nuvation Bio Inc is a biopharmaceutical company tackling unmet needs in oncology by developing differentiated and novel therapeutic candidates. The company's clinical-stage product candidate is NUV-868, a BD2-selective oral small molecule BET inhibitor. NUV-868 inhibits the protein BRD4, a key member of the BET family that epigenetically regulates a number of important proteins that control tumor growth and differentiation, including oncogenes such as c-myc. Notably, BET proteins have critical biological functions and are found to be altered in many human cancers. It is also developing its proprietary, small molecule Drug-Drug Conjugate (DDC) platform, a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies with parallels to Antibody-Drug Conjugates (ADCs).

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Key Takeaways:


	Cancer treatment maker ProfoundBio announced it will be purchased by Denmark’s Genmab for $1.8 billion
	The deal is the fourth acquisition of a China-related innovative drugmaker by a foreign company in the last four months


By Doug Young

ProfoundBio Discovers The Joys Of Having A Wealthy Owner

Pre-Market Outlook

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INTC

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XPEV

U.S. stock futures were lower this morning, with the Nasdaq futures falling by around 0.2% on Wednesday.

Intel, XPeng And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session

Nuvation Bio Inc

Context Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTX#NASDAQ">CNTX</a>) reported quarterly losses of $(0.23) per share which beat the analyst consensus estimate of $(0.38) by 39.47 percent. This is a 42.5 percent increase over losses of $(0.40) per share from the same period last year.

Earnings

Earnings Beats

CNTX

Context Therapeutics Q1 EPS $(0.23) Beats $(0.38) Estimate

Guidance

Unifi Sees Q4 2024 Revenue $160M-$165M Vs $168.493M Est.

MODG

Topgolf Callaway Raises 2024 Adj. EPS Guidance From $0.26-$0.34 To $0.31-$0.39 vs $0.30 Est., Cuts Net Revenue Guidance From $4.515B-$4.555B To $4.435B-$4.475B vs $4.52B Est.

OSUR

OraSure Sees Q2 2024 Revenue $50M-$55M Vs $53.7M Estimate

Nutrien Sees FY24 Retail Adj. EBITDA $1.65B-$1.85B

INVE

Identiv Currently Expects Q2 Total Company Net Revenues Of $23M-$25M (Est $27.15M), With Normal Seasonality Expected To Continue

Hasbro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) has raised $500 million of corporate debt through a sale of 10-year bonds, its first <a href="https://www.benzinga.com/insights/analyst-ratings/24/04/38438954/the-analyst-verdict-hasbro-in-the-eyes-of-12-experts">bond sale since 2019.</a>
The toy giant behind staples such as Monopoly, Beyblade and Play-Doh and film franchises Transformers and G.I. Joe issued debt with yields of 1.6% above treasury bills on Wednesday, <a href="https://www.bloomberg.com/news/articles/2024-05-08/monopoly-toymaker-hasbro-kicks-off-first-bond-sale-since-2019?sref=TBDibEcD">according</a> to Bloomberg. Bank of America, Citigroup, JPMorgan and Bank of Nova Scotia managed the sale, a source told the outlet.
Hasbro previously issued $2.4 billion worth of bonds in November 2019 to finance a portion of its $4 billion acquisition of London-based entertainment company Entertainment One Ltd. 
Since the acquisition, Hasbro has sold several business segments. Among them was the sale of EOne&#8217;s film and TV divisions to Lions Gate Entertainment Corp. for $375 million and the assumption of Hasbro&#8217;s production financing. In addition, Hasbro sold EOne&#8217;s music rights platform eOne Music to Blackstone for $385 million in 2021, Bloomberg reports.
The offering was preceded by the company&#8217;s recent first-quarter earnings beat. Hasbro earned 61 cents per share, exceeding analysts&#8217; estimates of 27 cents per share on an adjusted basis amid the company&#8217;s long-standing turnaround. The company also <a href="https://www.benzinga.com/news/earnings/24/04/38402351/why-toy-maker-hasbros-shares-are-shooting-higher-today">reported first-quarter sales</a> of $757.30 million, above the consensus analyst estimate of $738.61 million.
The company has encountered abnormally low consumer demand in the U.S. In February, the company reported a tumble in holiday-quarter sales amid a broader decrease in consumer discretionary spending. This follows <a href="https://www.benzinga.com/economics/macro-economic-events/24/01/36444605/us-consumer-debt-moves-toward-pre-covid-levels-economist-shares-top-takeaways">an overall slowdown</a> in the amount of credit card debt talked on by U.S. consumers. In response, the company laid off a significant part of its workforce.
Now Read: <a href="https://www.benzinga.com/general/sports/24/05/38710804/nfl-rule-could-open-door-for-big-money-investors-will-your-team-go-up-for-sale">NFL Rule Could Open Door For Big Money Investors: Will Your Team Go Up For Sale?</a>
Photo: Shutterstock

Entertainment

Equities

Financing

Hasbro Secures $500M In Bonds As Part of Strategic Turnaround

NextNav (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NN#NASDAQ">NN</a>) reported quarterly losses of $(0.28) per share which missed the analyst consensus estimate of $(0.14) by 100 percent. This is a 86.67 percent decrease over losses of $(0.15) per share from the same period last year. The company reported quarterly sales of $1.05 million which missed the analyst consensus estimate of $1.22 million by 14.26 percent. This is a 26.02 percent increase over sales of $830.00 thousand the same period last year.

Earnings Misses

NextNav Q1 EPS $(0.28) Misses $(0.14) Estimate, Sales $1.05M Miss $1.22M Estimate

<a href="https://www.globenewswire.com/Tracker?data=EX0F8URG_wyMqlsm-sWNxBJ7v3RBFmDG6UWQyWPRH7KoWBGV7qSBx0aQI9pdZ8YhNTQtQovwDnpsBXKytLNOQWxNA5DTBRCtCQz9uI6KYsk=">Anika Therapeutics, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANIK#NASDAQ">ANIK</a>), a global joint preservation company in early intervention orthopedics, today announced that it has appointed Steve Griffin as the Company's Executive Vice President, Chief Financial Officer ("CFO") and Treasurer, effective June 3, 2024. He succeeds Michael Levitz, who has decided to step down as CFO after almost four years with the company. Mr. Levitz will remain with the Company through December 31, 2024, to ensure a smooth transition. &nbsp;
"We are pleased to welcome Steve to Anika as we focus on accelerating our pivot to profitability," said Cheryl Blanchard, Ph.D., Anika's President and CEO. "Steve is an accomplished public company leader whose ability to connect strategic, operational, and financial expertise will be a significant asset for our Company. I am confident that Steve will build on our recent momentum and partner with our operating teams to achieve the meaningful value building potential across the business."
Dr. Blanchard continued, "On behalf of the Anika team, I'd like to thank Mike for his leadership over the past four years. Mike joined Anika in mid-2020 following our two acquisitions. His strategic and operational insights have helped Anika navigate this period of significant change while positioning the Company for an exciting future driven by thoughtful investments in Anika's market-leading hyaluronic acid business and key product developments in the highest opportunity spaces of orthopedics. We are glad to continue benefitting from his expertise through the end of this year and wish him the best."
"Joining Anika represents an exciting opportunity to contribute to a well-established, market-leading organization with a strong track record of developing innovative solutions in the highest opportunity spaces in orthopedics," said Mr. Griffin. "I look forward to partnering with Cheryl and the talented Anika team to unlock new opportunities with its significant pipeline of differentiated product lines to deliver sustainable, profitable growth."
"I'm very thankful for the opportunity to have been a part of the Anika team," said Mr. Levitz. "The Company has navigated a challenging period and made meaningful strides, including thoughtful investments as well as targeted cost reductions that together have strengthened its core OA business, advanced a meaningful portfolio and pipeline of differentiated products leveraging Anika's HA expertise, and maintained a healthy financial position. I am confident this progress will continue with Steve guiding our talented team and look forward to following Anika's success for years to come."

Management

ANIK

Anika Announces Steve Griffin Appointed To CFO, Effective June 3, 2024

a.k.a. Brands Expects Q2 Net Sales Of $133M-$138M (Est $135.156M), Revises FY24 Forecast From $540M-$555M To $545M-$555M (Est $547.266M)

SEDG

SolarEdge Sees Q2 2024 Revenue $250M-$280M Vs $305M Estimate

Pennant Park Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNNT#NYSE">PNNT</a>) reported quarterly earnings of $0.22 per share which missed the analyst consensus estimate of $0.24 by 8.33 percent. This is a 15.38 percent decrease over earnings of $0.26 per share from the same period last year. The company reported quarterly sales of $35.98 million which missed the analyst consensus estimate of $36.34 million by 0.99 percent. This is a 1.02 percent decrease over sales of $36.35 million the same period last year.

PNNT

Pennant Park Investment Q2 EPS $0.22 Misses $0.24 Estimate, Sales $35.98M Miss $36.34M Estimate

BRCC

BRC Says Gross Margin Expected To Be At High End Of 37-40% Guidance Range

Nutrien (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTR#NYSE">NTR</a>) reported quarterly earnings of $0.46 per share which beat the analyst consensus estimate of $0.37 by 24.32 percent. The company reported quarterly sales of $5.389 billion which beat the analyst consensus estimate of $5.315 billion by 1.39 percent. This is a 11.76 percent decrease over sales of $6.107 billion the same period last year.

Nutrien Q1 2024 Adj EPS $0.46 Beats $0.37 Estimate, Sales $5.389B Beat $5.315B Estimate

Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>, the "Company" or "Euroseas")))), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today it has entered into a time charter contract for M/V Monica, a newbuilding fuel efficient 1,800 teu feeder containership currently under construction, for a minimum period of 10 to a maximum period of 12 months at the option of the charterer, at a gross daily rate of $16,000. The new charter will commence upon delivery of the vessel from the shipyard expected around mid-May 2024. The acquisition was financed with a combination of own funds and a US$22.5 million loan provided by the National Bank of Fujairah. The same financing is secured for the sister ship M/V Stefania K, which is expected to be delivered in mid-June. &nbsp;
Aristides Pittas, Chairman and CEO of Euroseas, commented: "We are pleased to announce that we have chartered our upcoming newbuilding vessel, the fifth in a series of nine and first of our three 1,800 teu units, with one of the largest liner companies, at a profitable rate level of $16,000/day. This charter is expected to contribute about $2.7 million of EBITDA for the minimum contracted period; it increases our 2024 charter coverage to over 85%. We are also pleased to have started a cooperation with the National Bank of Fujairah, as part of our strategy of diversifying our debt financing sources and expanding our relationships with commercial shipping lenders worldwide; and, finally, we are grateful for the advice we received from Alantra DIFC in arranging this financing."
Bilal Hasan Ashraf – Head, Energy &amp; Marine and Government and Large Corporate, Fujairah – National Bank of Fujairah PJSC, commented: "We are excited to support the charter of Euroseas new fuel-efficient container ships through our sustainability linked loan. This innovative partnership not only demonstrates our commitment to promote sustainable practices in the maritime industry but also showcases our dedication to support businesses that prioritize environmental stewardship. By investing in cleaner and more efficient vessels, we are proud to contribute to a greener future for the shipping industry and the planet as a whole."
Nicholas Petrakakos, Partner &amp; MD at Alantra DIFC, commented: "We are pleased to have advised Euroseas in this milestone sustainability linked financing facility with National Bank of Fujairah, for two state of the art containerships MV Monica and MV Stephania K. Our Maritime &amp; Offshore team strives to deliver innovative solutions to our clients, and this transaction is a testament of our commitment, bringing together a prominent Greek owner and the most sophisticated UAE based shipping bank."

Contracts

ESEA

Euroseas Ltd. Announces Time Charter Contract For Its Fuel Efficient 1,800 teu Feeder Containership Newbuilding, M/V Monica For 10-12 Months At The Option Of The Charterer, At A Gross Daily Rate Of $16,000 And Financing Of M/V Monica And M/V Stefania K

PIII

P3 Health Partners Anticipates Reaching Adjusted EBITDA Positive In 2024; Reaffirms Total Revenue Forecast Of $1.45B-$1.55B (Est $1.495B)

SuRo Capital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSSS#NASDAQ">SSSS</a>) reported quarterly losses of $(0.13) per share which missed the analyst consensus estimate of $(0.12) by 8.33 percent. This is a 13.33 percent increase over losses of $(0.15) per share from the same period last year. The company reported $1.528 million in sales this quarter. This is a 17.63 percent increase over sales of $1.299 million the same period last year.

SSSS

SuRo Capital Q1 2024 GAAP EPS $(0.13) Misses $(0.12) Estimate, Sales $1.528M Up From $1.299M YoY

Accel Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACEL#NYSE">ACEL</a>) reported quarterly earnings of $0.23 per share which beat the analyst consensus estimate of $0.21 by 9.52 percent. The company reported quarterly sales of $301.800 million which beat the analyst consensus estimate of $295.743 million by 2.05 percent. This is a 2.93 percent increase over sales of $293.208 million the same period last year.

ACEL

Accel Entertainment Q1 2024 Adj EPS $0.23 Beats $0.21 Estimate, Sales $301.800M Beat $295.743M Estimate

ZIMV

ZimVie Sees FY24 Adj. EPS $0.55-$0.70 Vs $0.10 Est.; Revenue $450M-$460M Vs $454.050M Est.

Limbach Holdings Sees FY24 Revenue $510M-$530M, Raises Adj. EBITDA Guidance From $49M-$53M To $51M-$55M

SMR, GCTS and GSIW among mid-day movers

These Healthcare stocks are trading higher:-Ibio Inc (IBIO) stock is trading at $3.38, an increase of $2.23, or 185.96%, on high volume.  Ibio Inc gets a Sentiment Score of Very Bullish from InvestorsObserver.  -Lixte Biotechnology Holdings Inc (LIXT) stock is trading at $3.40, an increase of $1.14, or 48.23%, on high volu

Healthcare Stocks on the Move Wednesday: IBIO, LIXT, STOK, NUVB, OGI, BIOR, GOSS, MRAI

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Santhera Pharmaceuticals Holding (SPHDF – Research R...

Analysts Offer Insights on Healthcare Companies: Santhera Pharmaceuticals Holding (OtherSPHDF), Nuvation Bio (NUVB) and Mereo Biopharma Group Plc (MREO)

Nuvation Bio Inc (NUVB) is up 1.01% today. NUVB has an Overall Score of 68. Find out what this means to you and get the rest of the rankings on NUVB!See Full NUVB ReportNUVB stock closed at $3.97 and is up $0.04 during pre-market trading. Pre-market tends to be more volatile due to significantly lower volume as most invest

Premarket Mover: Nuvation Bio Inc (NUVB) Up 1.01%

South Korea's AriBio out-licensed China rights for AR1001, an Alzheimer's disease candidate, in an agreement worth up to $770 million. The company acquiring the asset asked to remain anonymous because of the competition for Alzheimer's drugs.

Week In Review: AriBio Sells China Rights To Alzheimer's Candidate In $770 Million Deal

Week In Review: AriBio Sells China Rights To Alzheimer's Candidate In $770M Deal

Nuvation Bio: Strong Buy Off The Acquisition Of A Late-Stage Lung Cancer Candidate

Nuvation Bio (NUVB) just unveiled an announcement. Nuvation Bio Inc. recently completed its acquisition of AnHeart Therapeutics, issuing numerous s...

Nuvation Bio Expands and Refreshes Leadership with Acquisition

Analyst Kaveri Pohlman from BTIG maintained a Buy rating on Nuvation Bio (NUVB – Research Report) and keeping the price target at $5.00. Kaveri Poh...

Strategic Acquisition Bolsters Nuvation Bio's Growth Potential and Pipeline Prospects

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Edgewise Therapeutics (EWTX – Research Report), Heal...

Analysts Offer Insights on Healthcare Companies: Edgewise Therapeutics (EWTX), Healthequity (HQY) and Nuvation Bio (NUVB)

ARRW

BGNE

BIOR

BTOG

CZOO

DRCT

EWTX

FRGE

GCTS

GMDA

GOSS

GSIW

IBIO

INCPF

LIDR

LIXT

LUXH

MRAI

MREO

OUST

PAVM

RVYL

SPHDF

STOK

WETH

WUXAY

WUXIF

Press Releases

Nuvation Bio Announces FDA Clearance of Investigational New Drug Application for NUV-1511 for the Treatment of Advanced Solid Tumors

Nuvation Bio Announces Appointment of Dr. Robert Mashal to its Board of Directors

Nuvation Bio Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update

Opinion

Biotech's Role in Addressing the Pancreatic Cancer Emergency

Nuvation Bio Doses First Patient in Phase 1/2 Study of NUV-1511 for the Treatment of Advanced Solid Tumors

Nuvation Bio to Acquire AnHeart Therapeutics in All-Stock Transaction

Thinking about buying stock in BigBear.ai, Bitfarms, Paysign, Nuvation Bio, or One Group Hospitality?

Nuvation Bio Announces Appointment of Colleen Sjogren as Chief Commercial Officer

Nuvation Bio Completes Acquisition of AnHeart Therapeutics

Nuvation Bio to Present Updated Data on Taletrectinib, a ROS1 inhibitor, at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting

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Nuvation Bio Stock (NYSE:NUVB), Short Interest Report

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