Nuvectis Pharma (NASDAQ:NVCT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Nuvectis Pharma (NASDAQ:NVCT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts also recently issued reports on the stock. Maxim Group began coverage on shares of Nuvectis Pharma in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $17.00 price target for the company. Laidlaw began coverage on shares of Nuvectis Pharma in a report on Monday, March 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective (up from $11.00) on shares of Nuvectis Pharma in a research report on Wednesday, April 30th.

Nuvectis Pharma Price Performance

Shares of NASDAQ NVCT opened at $8.13 on Friday. The company has a market cap of $169.84 million, a price-to-earnings ratio of -7.19 and a beta of -0.16. The stock’s 50-day moving average is $9.28 and its two-hundred day moving average is $7.70. Nuvectis Pharma has a 1-year low of $4.44 and a 1-year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03. Equities research analysts anticipate 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 acquired 21,167 shares of Nuvectis Pharma stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $8.11 per share, for a total transaction of $171,664.37. Following the transaction, the insider now owns 2,942,761 shares of the company’s stock, valued at $23,865,791.71. This represents a 0.72% 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 link. In the last 90 days, insiders have acquired 69,703 shares of company stock worth $571,013. 30.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in Nuvectis Pharma in the fourth quarter valued at $34,000. Baxter Bros Inc. grew its holdings in shares of Nuvectis Pharma by 20.0% during the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,500 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new stake in shares of Nuvectis Pharma during the first quarter worth about $102,000. Squarepoint Ops LLC acquired a new stake in shares of Nuvectis Pharma during the fourth quarter worth about $103,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Nuvectis Pharma in the 4th quarter valued at about $135,000. 96.77% of the stock is owned by hedge funds and other institutional investors.

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.