Nuvectis Pharma (NASDAQ:NVCT) CEO Buys $28,600.00 in Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) CEO Ron Bentsur bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average price of $5.72 per share, for a total transaction of $28,600.00. Following the completion of the transaction, the chief executive officer owned 3,525,924 shares in the company, valued at $20,168,285.28. This trade represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nuvectis Pharma Price Performance

NASDAQ:NVCT opened at $5.65 on Thursday. The firm’s 50 day simple moving average is $6.23 and its 200 day simple moving average is $7.55. Nuvectis Pharma, Inc. has a one year low of $4.44 and a one year high of $11.80. The company has a market cap of $143.85 million, a PE ratio of -4.12 and a beta of -0.28.

Nuvectis Pharma (NASDAQ:NVCT) last posted its earnings results on Tuesday, November 4th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.20). Equities research analysts expect that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Institutional Trading of Nuvectis Pharma

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

Analysts Set New Price Targets

NVCT has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvectis Pharma in a report on Wednesday, October 8th. HC Wainwright lowered their price target on shares of Nuvectis Pharma from $15.00 to $10.00 and set a “buy” rating for the company in a report 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. Based on data from MarketBeat.com, the stock has an average 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.