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

Iridian Asset Management LLC CT purchased a new position in shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA lifted its stake in Nuvectis Pharma by 0.7% during the first quarter. Baldwin Wealth Partners LLC MA now owns 358,461 shares of the company's stock worth $3,502,000 after purchasing an additional 2,500 shares in the last quarter. Marshall Wace LLP raised its stake 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 acquiring an additional 81,757 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Nuvectis Pharma by 64.0% in the first quarter. Oppenheimer & Co. Inc. now owns 41,000 shares of the company's stock valued at $401,000 after acquiring an additional 16,000 shares in the last quarter. Northern Trust Corp raised its stake in shares of Nuvectis Pharma by 68.7% in the fourth quarter. Northern Trust Corp now owns 25,725 shares of the company's stock valued at $139,000 after acquiring an additional 10,472 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Nuvectis Pharma in the fourth quarter valued at $103,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, major shareholder Marlio Charles Mosseri bought 28,043 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were acquired at an average price of $8.05 per share, for a total transaction of $225,746.15. Following the purchase, the insider owned 2,976,203 shares in the company, valued at $23,958,434.15. This trade represents a 0.95% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have acquired 75,306 shares of company stock valued at $615,781. Insiders own 30.52% of the company's stock.

Nuvectis Pharma Stock Up 0.9%

Shares of Nuvectis Pharma stock traded up $0.08 during trading on Thursday, hitting $8.16. 24,816 shares of the company were exchanged, compared to its average volume of 134,583. Nuvectis Pharma, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $11.80. The stock has a market capitalization of $170.36 million, a price-to-earnings ratio of -7.22 and a beta of -0.25. The firm has a 50 day moving average price of $8.76 and a 200 day moving average price of $7.94.

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

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.