Nuvectis Pharma (NASDAQ:NVCT) Now Covered by Analysts at Maxim Group

Equities research analysts at Maxim Group initiated coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $17.00 price target on the stock. Maxim Group’s target price would indicate a potential upside of 81.82% from the company’s previous close.

Other analysts have also issued research reports about the stock. HC Wainwright lowered their price target on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Laidlaw started coverage on shares of Nuvectis Pharma in a report on Monday, March 17th. They set a “buy” rating and a $19.00 target price on the stock.

Nuvectis Pharma Price Performance

NASDAQ:NVCT opened at $9.35 on Wednesday. The company has a market capitalization of $218.72 million, a P/E ratio of -8.06 and a beta of 0.23. The business has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $6.65. 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, March 4th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.08). As a group, analysts anticipate that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Insider Buying and Selling at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri purchased 240,000 shares of the business’s stock in a transaction on 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 acquisition, the insider now directly owns 2,884,121 shares in the company, valued at approximately $14,420,605. This trade represents a 9.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 35.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NVCT. Geode Capital Management LLC grew 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 worth $501,000 after buying an additional 26,489 shares in the last quarter. Baldwin Wealth Partners LLC MA boosted its position in shares of 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 acquiring an additional 181,831 shares during the last quarter. Forbes J M & Co. LLP grew 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 worth $319,000 after purchasing an additional 10,599 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Nuvectis Pharma by 35.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock worth $73,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Nuvectis Pharma in the fourth quarter worth approximately $135,000. 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.