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Iridian Asset Management LLC CT Makes New $2.48 Million Investment in Nuvectis Pharma, Inc. (NASDAQ:NVCT)

Nuvectis Pharma logo with Medical background

Iridian Asset Management LLC CT purchased a new stake in Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 253,972 shares of the company's stock, valued at approximately $2,481,000. Iridian Asset Management LLC CT owned approximately 1.09% of Nuvectis Pharma as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NVCT. Baldwin Wealth Partners LLC MA raised its position in shares of Nuvectis Pharma by 0.7% in the 1st quarter. Baldwin Wealth Partners LLC MA now owns 358,461 shares of the company's stock valued at $3,502,000 after purchasing an additional 2,500 shares during the last quarter. Marshall Wace LLP raised its position in shares of Nuvectis Pharma by 191.0% in the 4th quarter. Marshall Wace LLP now owns 124,571 shares of the company's stock valued at $674,000 after purchasing an additional 81,757 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Nuvectis Pharma by 64.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 41,000 shares of the company's stock valued at $401,000 after purchasing an additional 16,000 shares during the last quarter. Northern Trust Corp raised its position in shares of Nuvectis Pharma by 68.7% in 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 during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Nuvectis Pharma in the 4th quarter valued at approximately $103,000. 96.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri bought 28,043 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was purchased at an average cost of $8.05 per share, with a total value of $225,746.15. Following the acquisition, the insider directly owned 2,976,203 shares in the company, valued at $23,958,434.15. This trade represents a 0.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 75,306 shares of company stock worth $615,781. 30.52% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Maxim Group assumed coverage on shares of Nuvectis Pharma in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $17.00 price objective for the company. Wall Street Zen lowered shares of Nuvectis Pharma from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective (up from $11.00) on shares of Nuvectis Pharma in a report on Wednesday, April 30th. Finally, Laidlaw initiated coverage on shares of Nuvectis Pharma in a report on Monday, March 17th. They set a "buy" rating and a $19.00 target price for the company.

View Our Latest Stock Analysis on Nuvectis Pharma

Nuvectis Pharma Price Performance

NASDAQ:NVCT traded down $0.31 during mid-day trading on Friday, hitting $7.88. The company's stock had a trading volume of 44,034 shares, compared to its average volume of 133,797. Nuvectis Pharma, Inc. has a 1 year low of $4.44 and a 1 year high of $11.80. The stock has a market cap of $164.61 million, a price-to-earnings ratio of -6.97 and a beta of -0.25. The business's fifty day moving average is $8.71 and its two-hundred day moving average is $8.01.

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

About Nuvectis Pharma

(Free Report)

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.

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Institutional Ownership by Quarter for Nuvectis Pharma (NASDAQ:NVCT)

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