Iridian Asset Management LLC CT Acquires Shares of 253,972 Nuvectis Pharma, Inc. (NASDAQ:NVCT)

Iridian Asset Management LLC CT bought a new stake in Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Baldwin Wealth Partners LLC MA increased its stake 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 worth $3,502,000 after acquiring an additional 2,500 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Nuvectis Pharma by 191.0% in the fourth 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 period. Oppenheimer & Co. Inc. raised its stake in Nuvectis Pharma by 64.0% during the first quarter. Oppenheimer & Co. Inc. now owns 41,000 shares of the company's stock worth $401,000 after purchasing an additional 16,000 shares during the period. Northern Trust Corp grew its stake 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 buying an additional 10,472 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Nuvectis Pharma during the 4th quarter worth approximately $103,000. 96.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Marlio Charles Mosseri acquired 28,043 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was bought at an average price of $8.05 per share, for a total transaction of $225,746.15. Following the completion of the purchase, the insider directly owned 2,976,203 shares of the company's stock, valued at approximately $23,958,434.15. The trade was a 0.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 75,306 shares of company stock valued at $615,781. Corporate insiders own 30.52% of the company's stock.

Nuvectis Pharma Trading Up 6.6%

NVCT traded up $0.50 on Wednesday, hitting $8.08. 62,573 shares of the company were exchanged, compared to its average volume of 133,754. The firm has a 50-day moving average price of $8.76 and a two-hundred day moving average price of $7.94. Nuvectis Pharma, Inc. has a twelve month low of $4.44 and a twelve month high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last posted its 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. Sell-side analysts expect that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.