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

Maxim Group started coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $17.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. HC Wainwright lowered their price target on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Laidlaw started coverage on shares of Nuvectis Pharma in a research note on Monday, March 17th. They set a “buy” rating and a $19.00 target price on the stock.

Nuvectis Pharma Stock Performance

Shares of Nuvectis Pharma stock opened at $9.46 on Wednesday. The stock has a market cap of $221.29 million, a P/E ratio of -8.16 and a beta of 0.23. The stock’s fifty day moving average is $7.67 and its 200 day moving average is $6.69. Nuvectis Pharma has a one year low of $4.44 and a one year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.08). Analysts predict that Nuvectis Pharma will post -1.01 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average cost of $5.00 per share, with a total value of $1,200,000.00. Following the completion of the purchase, the insider now owns 2,884,121 shares of the company’s stock, valued at approximately $14,420,605. The trade was a 9.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 35.78% of the stock is owned by insiders.

Institutional Trading of Nuvectis Pharma

Several hedge funds have recently bought and sold shares of the stock. Baxter Bros Inc. grew its position in shares of Nuvectis Pharma by 20.0% during the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock valued at $81,000 after purchasing an additional 2,500 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Nuvectis Pharma by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock valued at $73,000 after buying an additional 3,500 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Nuvectis Pharma in the 4th quarter worth approximately $34,000. Northern Trust Corp raised its holdings in shares of Nuvectis Pharma by 68.7% during the 4th quarter. Northern Trust Corp now owns 25,725 shares of the company’s stock worth $139,000 after acquiring an additional 10,472 shares in the last quarter. Finally, Forbes J M & Co. LLP boosted its position in shares of Nuvectis Pharma by 21.9% during the 4th quarter. Forbes J M & Co. LLP now owns 59,000 shares of the company’s stock valued at $319,000 after acquiring an additional 10,599 shares during the last quarter. Hedge funds and other institutional investors 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.