Insider Buying: Nuvectis Pharma, Inc. (NASDAQ:NVCT) Major Shareholder Acquires 2,650 Shares of Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) major shareholder Marlio Charles Mosseri purchased 2,650 shares of Nuvectis Pharma stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $8.65 per share, with a total value of $22,922.50. Following the acquisition, the insider now directly owns 2,911,532 shares of the company’s stock, valued at approximately $25,184,751.80. This trade represents a 0.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Marlio Charles Mosseri also recently made the following trade(s):

• On Tuesday, May 6th, Marlio Charles Mosseri acquired 12,444 shares of Nuvectis Pharma stock. The stock was bought at an average cost of $8.59 per share, for a total transaction of $106,893.96.

Nuvectis Pharma Trading Down 2.5%

Shares of NVCT opened at $8.99 on Monday. The stock has a market capitalization of $212.48 million, a price-to-earnings ratio of -7.75 and a beta of -0.11. Nuvectis Pharma, Inc. has a 12 month low of $4.44 and a 12 month high of $11.80. The firm has a fifty day simple moving average of $8.99 and a 200 day simple moving average of $7.21.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. As a group, research analysts predict that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Baldwin Wealth Partners LLC MA increased its position in shares of Nuvectis Pharma by 0.7% during the 1st quarter. Baldwin Wealth Partners LLC MA now owns 358,461 shares of the company’s stock worth $3,502,000 after purchasing an additional 2,500 shares during the last quarter. Baxter Bros Inc. grew its stake 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 buying an additional 2,500 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Nuvectis Pharma by 35.0% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock worth $73,000 after buying an additional 3,500 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Nuvectis Pharma during the fourth quarter worth $34,000. Finally, Blue Zone Wealth Advisors LLC acquired a new stake in Nuvectis Pharma in the first quarter valued at $102,000. 96.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on NVCT shares. Laidlaw initiated coverage on Nuvectis Pharma in a research note on Monday, March 17th. They issued a “buy” rating and a $19.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective (up from $11.00) on shares of Nuvectis Pharma in a report on Wednesday, April 30th. Finally, Maxim Group assumed coverage on Nuvectis Pharma in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $17.00 target price on the 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.