HC Wainwright Has Lowered Expectations for Nuvectis Pharma (NASDAQ:NVCT) Stock Price

Nuvectis Pharma (NASDAQ:NVCT) had its price objective decreased by HC Wainwright from $21.00 to $11.00 in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Nuvectis Pharma Trading Down 2.2 %

Shares of NVCT stock opened at $6.71 on Tuesday. The company has a market cap of $129.64 million, a P/E ratio of -5.78 and a beta of 0.22. The firm has a fifty day moving average price of $6.22 and a 200 day moving average price of $6.41. Nuvectis Pharma has a 12 month low of $4.44 and a 12 month high of $12.10.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). On average, equities analysts forecast that Nuvectis Pharma will post -1.01 EPS for the current year.

Insider Buying and Selling at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri purchased 17,000 shares of Nuvectis Pharma stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $4.70 per share, with a total value of $79,900.00. Following the completion of the transaction, the insider now directly owns 2,612,000 shares in the company, valued at approximately $12,276,400. The trade was a 0.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 261,500 shares of company stock worth $1,300,825 over the last three months. Insiders own 35.78% of the company’s stock.

Institutional Trading of Nuvectis Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Nuvectis Pharma in the 4th quarter valued at about $34,000. Nations Financial Group Inc. IA ADV purchased a new stake in Nuvectis Pharma in the third quarter valued at approximately $63,000. Baxter Bros Inc. boosted its holdings in shares of Nuvectis Pharma by 20.0% in the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock valued at $81,000 after acquiring an additional 2,500 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Nuvectis Pharma during the fourth quarter worth approximately $103,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Nuvectis Pharma in the 4th quarter valued at $135,000. 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.