Nuvectis Pharma (NASDAQ:NVCT) Coverage Initiated by Analysts at Maxim Group

Maxim Group initiated coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research report released on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $17.00 price objective on the stock.

Several other brokerages also recently commented on NVCT. Laidlaw began coverage on shares of Nuvectis Pharma in a research report on Monday, March 17th. They set a “buy” rating and a $19.00 price objective on the stock. 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 research note on Tuesday, February 25th.

Nuvectis Pharma Stock Performance

NVCT stock opened at $9.46 on Wednesday. The firm has a 50 day moving average price of $7.67 and a 200-day moving average price of $6.69. Nuvectis Pharma has a 52-week low of $4.44 and a 52-week high of $11.80. The firm has a market capitalization of $221.29 million, a price-to-earnings ratio of -8.16 and a beta of 0.23.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). As a group, sell-side analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Marlio Charles Mosseri purchased 240,000 shares of Nuvectis Pharma stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the completion of the purchase, the insider now directly owns 2,884,121 shares of the company’s stock, valued at $14,420,605. The trade was a 9.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVCT. Baldwin Wealth Partners LLC MA raised its stake in Nuvectis Pharma by 104.4% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock valued at $1,926,000 after buying an additional 181,831 shares during the last quarter. Marshall Wace LLP increased its position in Nuvectis Pharma by 191.0% during the fourth quarter. Marshall Wace LLP now owns 124,571 shares of the company’s stock valued at $674,000 after acquiring an additional 81,757 shares during the last quarter. Geode Capital Management LLC increased its position in Nuvectis Pharma by 49.8% during the third quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock valued at $501,000 after acquiring an additional 26,489 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Nuvectis Pharma in the fourth quarter valued at about $135,000. Finally, Squarepoint Ops LLC purchased a new position 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

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.