Nuvectis Pharma, Inc. (NASDAQ:NVCT) Sees Large Increase in Short Interest

Nuvectis Pharma, Inc. (NASDAQ:NVCT) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,390,000 shares, a growth of 23.0% from the October 31st total of 1,130,000 shares. Currently, 16.2% of the company’s shares are sold short. Based on an average daily trading volume, of 174,100 shares, the days-to-cover ratio is currently 8.0 days.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Nuvectis Pharma in a report on Tuesday, August 6th.

Insider Buying and Selling

In related news, CEO Ron Bentsur purchased 20,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $4.92 per share, with a total value of $98,400.00. Following the completion of the transaction, the chief executive officer now owns 3,266,424 shares of the company’s stock, valued at $16,070,806.08. This represents a 0.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Nuvectis Pharma in the second quarter valued at about $58,000. Nations Financial Group Inc. IA ADV acquired a new position in Nuvectis Pharma during the 3rd quarter worth approximately $63,000. Baxter Bros Inc. bought a new position in Nuvectis Pharma in the second quarter valued at $79,000. GSA Capital Partners LLP increased its position in shares of Nuvectis Pharma by 3.7% in the third quarter. GSA Capital Partners LLP now owns 50,129 shares of the company’s stock valued at $315,000 after acquiring an additional 1,790 shares during the last quarter. Finally, Iridian Asset Management LLC CT bought a new stake in shares of Nuvectis Pharma during the 3rd quarter worth approximately $348,000. 96.77% of the stock is owned by institutional investors and hedge funds.

Nuvectis Pharma Stock Down 1.2 %

Nuvectis Pharma stock traded down $0.06 during midday trading on Monday, hitting $4.98. The company’s stock had a trading volume of 15,891 shares, compared to its average volume of 117,957. The company has a market capitalization of $96.22 million, a PE ratio of -4.32 and a beta of 0.41. Nuvectis Pharma has a 12 month low of $4.61 and a 12 month high of $12.10. The stock’s 50-day moving average price is $6.83 and its 200-day moving average price is $6.67.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.01. During the same period in the previous year, the company earned ($0.37) earnings per share. As a group, equities analysts anticipate that Nuvectis Pharma will post -1.01 EPS for the current year.

About Nuvectis Pharma

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.