Nuvectis Pharma (NASDAQ:NVCT) Now Covered by Analysts at Laidlaw

Research analysts at Laidlaw assumed coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $19.00 price target on the stock. Laidlaw’s price target suggests a potential upside of 114.69% from the stock’s current price.

Separately, HC Wainwright reduced their price target on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Nuvectis Pharma Price Performance

NASDAQ NVCT opened at $8.85 on Monday. The stock’s fifty day moving average price is $6.72 and its 200 day moving average price is $6.43. Nuvectis Pharma has a 1 year low of $4.44 and a 1 year high of $11.89. The company has a market cap of $207.02 million, a price-to-earnings ratio of -7.63 and a beta of 0.23.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). Research analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $5.00 per share, with a total value of $1,200,000.00. Following the acquisition, the insider now directly owns 2,884,121 shares in the company, valued at $14,420,605. This trade represents a 9.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 35.78% of the stock is owned by insiders.

Institutional Trading of Nuvectis Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA raised its position in shares of Nuvectis Pharma by 104.4% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock worth $1,926,000 after acquiring an additional 181,831 shares during the period. Marshall Wace LLP increased its stake in shares of Nuvectis Pharma by 191.0% in the 4th quarter. Marshall Wace LLP now owns 124,571 shares of the company’s stock valued at $674,000 after purchasing an additional 81,757 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nuvectis Pharma by 49.8% in the 3rd quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock valued at $501,000 after purchasing an additional 26,489 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Nuvectis Pharma in the 4th quarter worth about $135,000. Finally, Squarepoint Ops LLC purchased a new position in Nuvectis Pharma during the fourth quarter worth approximately $103,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

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.