Austin Wealth Management LLC Takes $393,000 Position in Nuvectis Pharma, Inc. (NASDAQ:NVCT)

Austin Wealth Management LLC bought a new position in Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 40,250 shares of the company's stock, valued at approximately $393,000. Austin Wealth Management LLC owned approximately 0.17% of Nuvectis Pharma as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVCT. Cubist Systematic Strategies LLC bought a new position in shares of Nuvectis Pharma during the 4th quarter valued at $34,000. Blue Zone Wealth Advisors LLC bought a new position in shares of Nuvectis Pharma during the 1st quarter valued at $102,000. Baxter Bros Inc. raised its holdings in shares of Nuvectis Pharma by 20.0% during the 4th quarter. Baxter Bros Inc. now owns 15,000 shares of the company's stock valued at $81,000 after purchasing an additional 2,500 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Nuvectis Pharma during the 4th quarter valued at $103,000. Finally, Northern Trust Corp raised its holdings in shares of Nuvectis Pharma by 68.7% during the 4th quarter. Northern Trust Corp now owns 25,725 shares of the company's stock valued at $139,000 after purchasing an additional 10,472 shares in the last quarter. Hedge funds and other institutional investors own 96.77% of the company's stock.

Nuvectis Pharma Trading Up 4.3%

NVCT traded up $0.34 during trading on Monday, hitting $8.22. The stock had a trading volume of 201,162 shares, compared to its average volume of 134,066. The firm has a market cap of $171.75 million, a PE ratio of -7.27 and a beta of -0.25. Nuvectis Pharma, Inc. has a 12 month low of $4.44 and a 12 month high of $11.80. The company has a 50 day simple moving average of $8.71 and a 200-day simple moving average of $8.03.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.03. As a group, sell-side analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVCT has been the topic of a number of recent research reports. Laidlaw began coverage on shares of Nuvectis Pharma in a report on Monday, March 17th. They set a "buy" rating and a $19.00 price target on the stock. Maxim Group began coverage on shares of Nuvectis Pharma in a report on Wednesday, April 2nd. They issued a "buy" rating and a $17.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $15.00 target price (up previously from $11.00) on shares of Nuvectis Pharma in a report on Wednesday, April 30th. Finally, Wall Street Zen downgraded shares of Nuvectis Pharma from a "hold" rating to a "sell" rating in a report on Sunday, June 29th.

Insider Transactions at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri purchased 5,603 shares of the firm's stock in a transaction on Friday, June 20th. The shares were bought at an average cost of $7.99 per share, for a total transaction of $44,767.97. Following the transaction, the insider directly owned 2,981,806 shares of the company's stock, valued at approximately $23,824,629.94. This trade represents a 0.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 75,306 shares of company stock valued at $615,781. Company insiders own 30.52% of the company's stock.

Nuvectis Pharma 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.