Insider Buying: Nuvectis Pharma (NASDAQ:NVCT) Major Shareholder Buys $457,410.08 in Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) major shareholder Marlio Charles Mosseri bought 72,836 shares of the stock in a transaction on Monday, October 27th. The stock was purchased at an average cost of $6.28 per share, for a total transaction of $457,410.08. Following the acquisition, the insider owned 3,136,576 shares of the company’s stock, valued at $19,697,697.28. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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 Friday, October 24th, Marlio Charles Mosseri bought 35,034 shares of Nuvectis Pharma stock. The stock was purchased at an average cost of $6.15 per share, for a total transaction of $215,459.10.
• On Thursday, October 23rd, Marlio Charles Mosseri bought 46,900 shares of Nuvectis Pharma stock. The stock was purchased at an average cost of $6.06 per share, for a total transaction of $284,214.00.

Nuvectis Pharma Stock Performance

NVCT stock opened at $6.71 on Friday. The business’s 50-day moving average is $6.27 and its two-hundred day moving average is $7.62. Nuvectis Pharma, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $11.80. The company has a market cap of $170.84 million, a price-to-earnings ratio of -5.73 and a beta of -0.29.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Equities analysts predict that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on NVCT shares. HC Wainwright decreased their price target on shares of Nuvectis Pharma from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvectis Pharma in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.33.

Institutional Trading of Nuvectis Pharma

Institutional investors and hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at $28,000. JPMorgan Chase & Co. raised its holdings in Nuvectis Pharma by 3,398.9% during the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after acquiring an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Nuvectis Pharma during the second quarter valued at about $53,000. Bank of America Corp DE raised its holdings in Nuvectis Pharma by 417.2% during the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after acquiring an additional 6,909 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Nuvectis Pharma during the second quarter valued at about $97,000. 96.77% of the stock is currently owned by institutional investors.

About Nuvectis Pharma

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.