Laidlaw Begins Coverage on Nuvectis Pharma (NASDAQ:NVCT)

Stock analysts at Laidlaw started coverage on shares of Nuvectis Pharma (NASDAQ:NVCTGet Free Report) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $19.00 price target on the stock. Laidlaw’s price objective would suggest a potential upside of 114.69% from the stock’s previous close.

Separately, HC Wainwright dropped their target price on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Read Our Latest Research Report on Nuvectis Pharma

Nuvectis Pharma Stock Performance

Nuvectis Pharma stock opened at $8.85 on Monday. The company has a market capitalization of $207.02 million, a PE ratio of -7.63 and a beta of 0.23. The company has a 50 day moving average price of $6.72 and a 200-day moving average price of $6.43. Nuvectis Pharma has a fifty-two week low of $4.44 and a fifty-two week high of $11.89.

Nuvectis Pharma (NASDAQ:NVCTGet Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). On average, analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Insider Transactions at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri purchased 240,000 shares of the stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the acquisition, the insider now owns 2,884,121 shares of the company’s stock, valued at approximately $14,420,605. This represents a 9.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of NVCT. Baldwin Wealth Partners LLC MA grew its holdings in Nuvectis Pharma by 104.4% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock worth $1,926,000 after purchasing an additional 181,831 shares during the last quarter. Marshall Wace LLP grew its stake in Nuvectis Pharma by 191.0% during the 4th quarter. Marshall Wace LLP now owns 124,571 shares of the company’s stock worth $674,000 after buying an additional 81,757 shares during the last quarter. Geode Capital Management LLC increased its position in Nuvectis Pharma by 49.8% during the 3rd quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock valued at $501,000 after buying an additional 26,489 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Nuvectis Pharma in the fourth quarter valued at about $135,000. Finally, Squarepoint Ops LLC acquired a new stake in Nuvectis Pharma in the fourth quarter worth about $103,000. Hedge funds and other institutional investors own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

(Get Free Report)

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.

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