Matthew Kaplan Purchases 11,000 Shares of Nuvectis Pharma (NASDAQ:NVCT) Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) Director Matthew Kaplan bought 11,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average price of $5.84 per share, for a total transaction of $64,240.00. Following the completion of the transaction, the director directly owned 124,760 shares in the company, valued at approximately $728,598.40. This represents a 9.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nuvectis Pharma Trading Up 8.3%

NVCT opened at $6.14 on Friday. The stock has a 50-day moving average of $6.20 and a 200 day moving average of $7.52. Nuvectis Pharma, Inc. has a 12 month low of $4.44 and a 12 month high of $11.80. The firm has a market cap of $157.28 million, a P/E ratio of -4.48 and a beta of -0.28.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.20). On average, research analysts forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on NVCT shares. HC Wainwright dropped their price objective on shares of Nuvectis Pharma from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvectis Pharma in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Nuvectis Pharma by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 698,708 shares of the company’s stock valued at $4,206,000 after buying an additional 31,903 shares in the last quarter. Iridian Asset Management LLC CT grew its stake in Nuvectis Pharma by 8.8% in the 3rd quarter. Iridian Asset Management LLC CT now owns 405,621 shares of the company’s stock worth $2,442,000 after acquiring an additional 32,904 shares in the last quarter. Marex Group plc purchased a new position in shares of Nuvectis Pharma during the second quarter worth approximately $112,000. Bank of America Corp DE increased its position in shares of Nuvectis Pharma by 417.2% during the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock worth $64,000 after acquiring an additional 6,909 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Nuvectis Pharma during the second quarter valued at approximately $53,000. 96.77% of the stock is currently owned by 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.