Nuvectis Pharma (NASDAQ:NVCT) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Nuvectis Pharma (NASDAQ:NVCT) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $21.00 price objective on the stock.

Nuvectis Pharma Price Performance

Shares of NASDAQ:NVCT traded down $0.05 during mid-day trading on Wednesday, reaching $6.38. 60,451 shares of the company traded hands, compared to its average volume of 99,513. The company’s 50 day moving average price is $8.17 and its 200-day moving average price is $8.21. The firm has a market cap of $117.21 million, a PE ratio of -4.50 and a beta of 0.45. Nuvectis Pharma has a 52 week low of $5.92 and a 52 week high of $18.65.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, research analysts predict that Nuvectis Pharma will post -1.52 earnings per share for the current fiscal year.

Insider Activity

In other Nuvectis Pharma news, CEO Ron Bentsur bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $10.29 per share, for a total transaction of $51,450.00. Following the completion of the transaction, the chief executive officer now owns 3,242,484 shares of the company’s stock, valued at approximately $33,365,160.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 38.85% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

Several institutional investors have recently bought and sold shares of the stock. Baldwin Brothers LLC MA raised its holdings in shares of Nuvectis Pharma by 22.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 142,040 shares of the company’s stock worth $1,185,000 after acquiring an additional 25,660 shares in the last quarter. Strs Ohio increased its position in Nuvectis Pharma by 59.0% in the fourth quarter. Strs Ohio now owns 6,200 shares of the company’s stock worth $51,000 after purchasing an additional 2,300 shares during the last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in Nuvectis Pharma during the first quarter valued at $118,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Nuvectis Pharma during the fourth quarter valued at $160,000. 96.77% of the stock is owned by hedge funds and other institutional investors.

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.