Stock Track | Nuvation Bio Plummets 25.26% Intraday on Earnings Miss and Analyst Downgrade

Stock Track

03/03

Nuvation Bio Inc. (NUVB) shares plummeted 25.26% during intraday trading on Tuesday, marking a significant decline for the biotechnology stock.

The sharp drop follows the company's recent fourth-quarter earnings report, which revealed a loss of $0.11 per share. This result missed the analyst consensus estimate of a $0.09 loss by 22.22%, disappointing investors despite the company's quarterly sales surpassing expectations.

Adding to the negative sentiment, UBS adjusted its price target on Nuvation Bio downward to $7 from $10 while maintaining a Neutral rating. The combination of an earnings miss and a reduced price target from a major analyst firm contributed to the severe sell-off in the stock.

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(NUVB) shares plummeted 25.26% during intraday trading on Tuesday, marking a significant decline for the biotechnology stock.</p><p>The sharp drop follows the company's recent fourth-quarter earnings report, which revealed a loss of $0.11 per share. This result missed the analyst consensus estimate of a $0.09 loss by 22.22%, disappointing investors despite the company's quarterly sales surpassing expectations.</p><p>Adding to the negative sentiment, UBS adjusted its price target on Nuvation Bio downward to $7 from $10 while maintaining a Neutral rating. 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