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

Laidlaw began coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research note released on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $19.00 target price on the stock.

Separately, HC Wainwright decreased their price objective on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, February 25th.

Nuvectis Pharma Stock Up 7.2 %

Shares of NVCT opened at $9.49 on Monday. The business’s 50 day moving average price is $6.72 and its 200-day moving average price is $6.43. Nuvectis Pharma has a 52 week low of $4.44 and a 52 week high of $11.89. The stock has a market cap of $221.99 million, a P/E ratio of -8.18 and a beta of 0.23.

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

Insider Buying and Selling at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri acquired 240,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was purchased 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 approximately $14,420,605. The trade was a 9.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in Nuvectis Pharma in the 4th quarter worth $34,000. Nations Financial Group Inc. IA ADV boosted its holdings in Nuvectis Pharma by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock worth $73,000 after buying an additional 3,500 shares during the period. Baxter Bros Inc. boosted its holdings in Nuvectis Pharma by 20.0% in the 4th quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after buying an additional 2,500 shares during the period. Squarepoint Ops LLC bought a new position in Nuvectis Pharma in the 4th quarter worth $103,000. Finally, Oppenheimer & Co. Inc. bought a new position in Nuvectis Pharma in the 4th quarter worth $135,000. Institutional investors 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.