Short Interest in Nuvectis Pharma, Inc. (NASDAQ:NVCT) Rises By 23.0%

Nuvectis Pharma, Inc. (NASDAQ:NVCT) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 1,390,000 shares, a growth of 23.0% from the October 31st total of 1,130,000 shares. Based on an average daily trading volume, of 174,100 shares, the short-interest ratio is presently 8.0 days. Approximately 16.2% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of Nuvectis Pharma in a research report on Tuesday, August 6th.

Insider Transactions at Nuvectis Pharma

In other Nuvectis Pharma news, CEO Ron Bentsur acquired 20,000 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $4.92 per share, with a total value of $98,400.00. Following the purchase, the chief executive officer now directly owns 3,266,424 shares of the company’s stock, valued at approximately $16,070,806.08. This trade represents a 0.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Nuvectis Pharma by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 298,800 shares of the company’s stock valued at $2,450,000 after purchasing an additional 4,517 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Nuvectis Pharma by 20.7% during the second quarter. Renaissance Technologies LLC now owns 74,500 shares of the company’s stock valued at $472,000 after buying an additional 12,800 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in Nuvectis Pharma during the third quarter valued at $63,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Nuvectis Pharma during the second quarter valued at $58,000. Finally, Geode Capital Management LLC lifted its stake in Nuvectis Pharma by 49.8% in the 3rd quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock worth $501,000 after acquiring an additional 26,489 shares in the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Stock Down 4.5 %

Shares of NASDAQ NVCT opened at $5.04 on Monday. The stock’s fifty day simple moving average is $6.83 and its 200 day simple moving average is $6.67. The stock has a market capitalization of $97.37 million, a price-to-earnings ratio of -4.34 and a beta of 0.41. Nuvectis Pharma has a 52-week low of $4.61 and a 52-week high of $12.10.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.01. During the same period last year, the company posted ($0.37) EPS. As a group, analysts anticipate that Nuvectis Pharma will post -1.01 earnings per share for the current year.

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.