Baxter Bros Inc. Acquires 2,500 Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT)

Baxter Bros Inc. grew its holdings in Nuvectis Pharma, Inc. (NASDAQ:NVCT) by 20.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Baxter Bros Inc. owned about 0.08% of Nuvectis Pharma worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in NVCT. Nations Financial Group Inc. IA ADV increased its position in Nuvectis Pharma by 35.0% in the 4th 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 in the last quarter. Forbes J M & Co. LLP increased 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 acquiring an additional 10,599 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Nuvectis Pharma during the fourth quarter worth approximately $135,000. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 26,489 shares in the last quarter. Finally, Baldwin Wealth Partners LLC MA grew its position in Nuvectis Pharma by 104.4% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock valued at $1,926,000 after purchasing an additional 181,831 shares during the period. Institutional investors own 96.77% of the company’s stock.

Insiders Place Their Bets

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $5.00 per share, with a total value of $1,200,000.00. Following the transaction, the insider now directly owns 2,884,121 shares in the company, valued at $14,420,605. This trade represents a 9.08 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 35.78% of the company’s stock.

Nuvectis Pharma Trading Down 11.5 %

Shares of NASDAQ:NVCT opened at $8.68 on Wednesday. The stock has a market cap of $203.04 million, a PE ratio of -7.48 and a beta of 0.23. The stock’s fifty day simple moving average is $7.13 and its two-hundred day simple moving average is $6.55. Nuvectis Pharma, Inc. has a 1-year low of $4.44 and a 1-year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly 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, sell-side analysts forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. HC Wainwright reduced their price objective on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Laidlaw initiated coverage on Nuvectis Pharma in a research note on Monday, March 17th. They set a “buy” rating and a $19.00 price target for the company.

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.