Nuvectis Pharma (NASDAQ:NVCT) Issues Earnings Results

Nuvectis Pharma (NASDAQ:NVCT) posted its quarterly earnings data on Tuesday. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.20), Zacks reports.

Nuvectis Pharma Stock Performance

Nuvectis Pharma stock traded down $0.23 during midday trading on Tuesday, reaching $6.13. The stock had a trading volume of 11,209 shares, compared to its average volume of 130,967. The firm’s fifty day simple moving average is $6.27 and its 200-day simple moving average is $7.58. Nuvectis Pharma has a 1-year low of $4.44 and a 1-year high of $11.80. The stock has a market capitalization of $156.07 million, a P/E ratio of -5.24 and a beta of -0.28.

Insider Buying and Selling at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri purchased 72,836 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $6.28 per share, with a total value of $457,410.08. Following the completion of the purchase, the insider owned 3,136,576 shares in the company, valued at approximately $19,697,697.28. This represents a 2.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders purchased 154,770 shares of company stock worth $957,083. 30.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvectis Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its position in shares of Nuvectis Pharma by 63.6% during the 2nd quarter. Marshall Wace LLP now owns 63,613 shares of the company’s stock valued at $475,000 after purchasing an additional 24,739 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Nuvectis Pharma during the second quarter valued at approximately $97,000. Geode Capital Management LLC increased its position in Nuvectis Pharma by 110.8% in the second quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock worth $2,132,000 after buying an additional 149,999 shares during the last quarter. Jane Street Group LLC purchased a new stake in Nuvectis Pharma in the first quarter worth $413,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Nuvectis Pharma in the first quarter worth $446,000. Institutional investors own 96.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVCT. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvectis Pharma in a research note on Wednesday, October 8th. HC Wainwright lowered their target price on Nuvectis Pharma from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Nuvectis Pharma has a consensus rating of “Moderate Buy” and an average price target of $15.33.

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.