Nuvectis Pharma, Inc. (NASDAQ:NVCT) Short Interest Update

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 1,340,000 shares, a decline of 14.1% from the February 13th total of 1,560,000 shares. Based on an average daily volume of 107,000 shares, the short-interest ratio is presently 12.5 days. Currently, 11.1% of the shares of the stock are sold short.

Nuvectis Pharma Trading Up 9.1 %

NASDAQ:NVCT traded up $0.85 during trading hours on Friday, hitting $10.20. 338,573 shares of the stock were exchanged, compared to its average volume of 117,449. Nuvectis Pharma has a 52-week low of $4.44 and a 52-week high of $11.80. The firm's fifty day moving average price is $7.05 and its 200 day moving average price is $6.52. The company has a market cap of $238.60 million, a P/E ratio of -8.79 and a beta of 0.23.

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

Insider Activity at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri purchased 240,000 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $1,200,000.00. Following the purchase, the insider now directly owns 2,884,121 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this hyperlink. 35.78% of the stock is owned by company insiders.

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Institutional Investors Weigh In On Nuvectis Pharma

A number of large investors have recently made changes to their positions in NVCT. Baldwin Wealth Partners LLC MA grew 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 valued at $1,926,000 after purchasing an additional 181,831 shares in the last quarter. Marshall Wace LLP grew its position in shares of Nuvectis Pharma by 191.0% in the fourth 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 grew its position in shares of Nuvectis Pharma by 49.8% in the third 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. purchased a new stake in shares of Nuvectis Pharma in the fourth quarter valued at approximately $135,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Nuvectis Pharma in the fourth quarter valued at approximately $103,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. HC Wainwright cut their price target on Nuvectis Pharma from $21.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Laidlaw began coverage on Nuvectis Pharma in a research note on Monday, March 17th. They set a "buy" rating and a $19.00 price objective for the company.

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.