HC Wainwright Reaffirms “Buy” Rating for Nuvectis Pharma (NASDAQ:NVCT)

HC Wainwright reiterated their buy rating on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research note issued to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $21.00 target price on the stock.

Nuvectis Pharma Stock Performance

Shares of NVCT traded down $0.05 during midday trading on Wednesday, hitting $6.38. The company had a trading volume of 60,451 shares, compared to its average volume of 99,513. Nuvectis Pharma has a 1 year low of $5.92 and a 1 year high of $18.65. The firm has a market capitalization of $117.21 million, a P/E ratio of -4.50 and a beta of 0.45. The company’s 50-day simple moving average is $8.17 and its 200-day simple moving average is $8.21.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Equities analysts predict that Nuvectis Pharma will post -1.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvectis Pharma

In other Nuvectis Pharma news, CEO Ron Bentsur acquired 5,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average price of $10.29 per share, for a total transaction of $51,450.00. Following the acquisition, the chief executive officer now owns 3,242,484 shares in the company, valued at approximately $33,365,160.36. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 38.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NVCT. Strs Ohio grew its holdings in shares of Nuvectis Pharma by 178.6% during the third quarter. Strs Ohio now owns 3,900 shares of the company’s stock worth $50,000 after buying 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 $118,000. Edmond DE Rothschild Holding S.A. purchased a new position in Nuvectis Pharma in the 4th quarter valued at $160,000. Finally, Baldwin Brothers LLC MA increased its stake in Nuvectis Pharma by 22.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 142,040 shares of the company’s stock valued at $1,185,000 after buying an additional 25,660 shares during the period. Institutional investors and hedge funds own 96.77% of the company’s stock.

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.