Insider Buying: Nuvectis Pharma (NASDAQ:NVCT) Director Buys $64,240.00 in Stock

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

Nuvectis Pharma Trading Up 8.3%

Shares of NASDAQ:NVCT opened at $6.14 on Friday. The stock has a market cap of $157.25 million, a PE ratio of -4.48 and a beta of -0.28. The stock’s fifty day simple moving average is $6.20 and its two-hundred day simple moving average is $7.51. Nuvectis Pharma, Inc. has a 1-year low of $4.44 and a 1-year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last announced 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). On average, sell-side analysts forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVCT. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Nuvectis Pharma during the 2nd quarter worth approximately $28,000. JPMorgan Chase & Co. grew 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 purchasing an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Nuvectis Pharma in the second quarter worth $53,000. Bank of America Corp DE increased its position in Nuvectis Pharma by 417.2% in the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock worth $64,000 after buying an additional 6,909 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Nuvectis Pharma in the second quarter valued at $97,000. 96.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVCT has been the topic of several recent analyst reports. HC Wainwright dropped their target price 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 research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.33.

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.