Short Interest in Nuvectis Pharma, Inc. (NASDAQ:NVCT) Drops By 14.1%

Nuvectis Pharma, Inc. (NASDAQ:NVCT) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 1,340,000 shares, a decline of 14.1% from the February 13th total of 1,560,000 shares. Approximately 11.1% of the shares of the stock are short sold. Based on an average trading volume of 107,000 shares, the short-interest ratio is presently 12.5 days.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NVCT shares. Laidlaw started coverage on shares of Nuvectis Pharma in a research note on Monday. They issued a “buy” rating and a $19.00 price target for the company. HC Wainwright lowered their price objective on Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Insider Activity at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $5.00 per share, with a total value of $1,200,000.00. Following the completion of the purchase, the insider now directly owns 2,884,121 shares in the company, valued at $14,420,605. This represents a 9.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 35.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Large investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its holdings in shares of Nuvectis Pharma by 3.7% during the third quarter. GSA Capital Partners LLP now owns 50,129 shares of the company’s stock valued at $315,000 after acquiring an additional 1,790 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 purchasing an additional 26,489 shares during the last quarter. Baldwin Wealth Partners LLC MA raised its stake in shares of 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. Forbes J M & Co. LLP lifted its holdings in shares of Nuvectis Pharma by 21.9% during the fourth quarter. Forbes J M & Co. LLP now owns 59,000 shares of the company’s stock valued at $319,000 after purchasing an additional 10,599 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its position in shares of Nuvectis Pharma by 35.0% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock valued at $73,000 after buying an additional 3,500 shares during the last quarter. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

Nuvectis Pharma Stock Down 5.1 %

Shares of NASDAQ:NVCT traded down $0.48 during midday trading on Wednesday, hitting $8.96. 186,407 shares of the stock traded hands, compared to its average volume of 116,379. The business’s 50 day moving average is $6.84 and its two-hundred day moving average is $6.47. The stock has a market capitalization of $209.59 million, a PE ratio of -7.72 and a beta of 0.23. Nuvectis Pharma has a one year low of $4.44 and a one year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last posted its earnings results on Tuesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate 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 year.

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.