Short Interest in Nuvectis Pharma, Inc. (NASDAQ:NVCT) Decreases By 14.1%

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

Nuvectis Pharma Stock Performance

Shares of NASDAQ:NVCT traded up $0.55 on Thursday, reaching $9.51. The company’s stock had a trading volume of 49,563 shares, compared to its average volume of 115,887. The company has a 50-day simple moving average of $6.84 and a 200 day simple moving average of $6.47. 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 $222.34 million, a P/E ratio of -8.10 and a beta of 0.23.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.08). On average, equities research analysts forecast that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NVCT shares. HC Wainwright reduced their target price on Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Laidlaw assumed coverage on Nuvectis Pharma in a research note on Monday. They issued a “buy” rating and a $19.00 price objective on the stock.

Insider Transactions at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average cost of $5.00 per share, with a total value of $1,200,000.00. Following the completion of the purchase, the insider now owns 2,884,121 shares of the company’s stock, valued at approximately $14,420,605. The trade was a 9.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 35.78% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP lifted its position in Nuvectis Pharma by 3.7% in the third quarter. GSA Capital Partners LLP now owns 50,129 shares of the company’s stock worth $315,000 after buying an additional 1,790 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Nuvectis Pharma by 49.8% in the third quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock valued at $501,000 after acquiring an additional 26,489 shares during the period. Baldwin Wealth Partners LLC MA lifted its holdings in shares of Nuvectis Pharma by 104.4% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock worth $1,926,000 after acquiring an additional 181,831 shares during the last quarter. Forbes J M & Co. LLP boosted its stake in shares of Nuvectis Pharma by 21.9% during the 4th 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 during the period. Finally, Nations Financial Group Inc. IA ADV grew its holdings in Nuvectis Pharma by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock valued at $73,000 after purchasing an additional 3,500 shares during the last quarter. 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.