Nuvectis Pharma, Inc. (NASDAQ:NVCT) Short Interest Update

Nuvectis Pharma, Inc. (NASDAQ:NVCT) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,340,000 shares, a drop of 14.1% from the February 13th total of 1,560,000 shares. Based on an average trading volume of 107,000 shares, the short-interest ratio is currently 12.5 days. Currently, 11.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

NVCT has been the subject of several research analyst reports. Laidlaw began 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 dropped their price target on Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Insider Transactions at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri acquired 240,000 shares of Nuvectis Pharma stock in a transaction dated Friday, February 7th. The stock was bought at an average price 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 represents a 9.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its holdings in Nuvectis Pharma by 3.7% during the 3rd quarter. GSA Capital Partners LLP now owns 50,129 shares of the company’s stock worth $315,000 after acquiring an additional 1,790 shares during the period. Baxter Bros Inc. raised its position in shares of Nuvectis Pharma by 20.0% in the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after buying an additional 2,500 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in 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 period. Cubist Systematic Strategies LLC purchased a new position in Nuvectis Pharma during the fourth quarter worth about $34,000. Finally, Northern Trust Corp increased its stake in Nuvectis Pharma by 68.7% in the 4th quarter. Northern Trust Corp now owns 25,725 shares of the company’s stock worth $139,000 after acquiring an additional 10,472 shares during the last quarter. 96.77% of the stock is owned by institutional investors.

Nuvectis Pharma Stock Down 5.1 %

NVCT stock traded down $0.48 during midday trading on Wednesday, reaching $8.96. 186,407 shares of the company’s stock traded hands, compared to its average volume of 116,379. Nuvectis Pharma has a 52 week low of $4.44 and a 52 week high of $11.80. The company has a market cap of $209.59 million, a price-to-earnings ratio of -7.72 and a beta of 0.23. The firm’s fifty day moving average price is $6.84 and its 200-day moving average price is $6.47.

Nuvectis Pharma (NASDAQ:NVCT) last posted its 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). Analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current year.

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.