HC Wainwright Cuts Nuvectis Pharma (NASDAQ:NVCT) Price Target to $11.00

Nuvectis Pharma (NASDAQ:NVCT) had its price target cut by analysts at HC Wainwright from $21.00 to $11.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 56.58% from the company’s current price.

Nuvectis Pharma Stock Down 4.6 %

NVCT stock traded down $0.34 during trading on Tuesday, hitting $7.03. The company had a trading volume of 49,010 shares, compared to its average volume of 119,285. The firm has a market capitalization of $135.72 million, a P/E ratio of -6.06 and a beta of 0.22. Nuvectis Pharma has a 52-week low of $4.44 and a 52-week high of $12.10. The company has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $6.40.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data 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). Sell-side analysts forecast 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 17,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $4.70 per share, with a total value of $79,900.00. Following the completion of the acquisition, the insider now owns 2,612,000 shares of the company’s stock, valued at $12,276,400. This trade represents a 0.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 261,500 shares of company stock valued at $1,300,825. 35.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nuvectis Pharma

Large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new stake in Nuvectis Pharma during the 4th quarter worth about $34,000. Nations Financial Group Inc. IA ADV purchased a new stake in Nuvectis Pharma in the third quarter valued at $63,000. Baxter Bros Inc. grew its position in Nuvectis Pharma by 20.0% during the 4th 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 period. Squarepoint Ops LLC purchased a new position in shares of Nuvectis Pharma during the 4th quarter valued at about $103,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Nuvectis Pharma during the 4th quarter worth approximately $135,000. Hedge funds and other 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.