Maxim Group Initiates Coverage on Nuvectis Pharma (NASDAQ:NVCT)

Maxim Group began coverage on shares of Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a "buy" rating and a $17.00 price target on the stock. Maxim Group's price objective points to a potential upside of 109.98% from the company's current price.

Several other brokerages also recently issued reports on NVCT. Laidlaw assumed coverage on Nuvectis Pharma in a report on Monday, March 17th. They issued a "buy" rating and a $19.00 price target on the stock. HC Wainwright reduced their target price on shares of Nuvectis Pharma from $21.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th.

Nuvectis Pharma Trading Down 1.9 %

Nuvectis Pharma stock traded down $0.15 during mid-day trading on Wednesday, reaching $8.10. The company's stock had a trading volume of 72,588 shares, compared to its average volume of 119,511. Nuvectis Pharma has a twelve month low of $4.44 and a twelve month high of $11.80. The business has a 50 day moving average price of $7.75 and a 200-day moving average price of $6.72. The firm has a market cap of $189.38 million, a price-to-earnings ratio of -7.13 and a beta of -0.11.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) 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). On average, equities analysts expect that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the business's stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the completion of the transaction, the insider now directly owns 2,884,121 shares of the company's stock, valued at approximately $14,420,605. This trade represents a 9.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 35.78% of the company's stock.

Institutional Trading of Nuvectis Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in Nuvectis Pharma during the fourth quarter valued at about $34,000. Nations Financial Group Inc. IA ADV boosted its position in shares of 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 purchasing an additional 3,500 shares in the last quarter. Baxter Bros Inc. grew its stake in shares of Nuvectis Pharma by 20.0% in the 4th quarter. Baxter Bros Inc. now owns 15,000 shares of the company's stock worth $81,000 after purchasing an additional 2,500 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Nuvectis Pharma in the 4th quarter worth approximately $103,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Nuvectis Pharma during the fourth quarter valued at approximately $135,000. Institutional investors own 96.77% of the company's stock.

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.