Millennium Management LLC Sells 38,801 Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT)

Millennium Management LLC reduced its position in Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,698 shares of the company's stock after selling 38,801 shares during the period. Millennium Management LLC owned about 0.15% of Nuvectis Pharma worth $161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP boosted its stake in Nuvectis Pharma by 191.0% during the fourth quarter. Marshall Wace LLP now owns 124,571 shares of the company's stock worth $674,000 after buying an additional 81,757 shares during the last quarter. Northern Trust Corp raised its stake in 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 buying an additional 10,472 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Nuvectis Pharma during the 4th quarter worth approximately $135,000. Baxter Bros Inc. boosted its position in shares of Nuvectis Pharma by 20.0% in 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 during the period. Finally, Nations Financial Group Inc. IA ADV increased its stake in Nuvectis Pharma by 35.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company's stock valued at $73,000 after purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors own 96.77% of the company's stock.

Nuvectis Pharma Stock Down 4.8%

Shares of NVCT traded down $0.42 during mid-day trading on Friday, hitting $8.41. 122,453 shares of the company's stock were exchanged, compared to its average volume of 129,101. Nuvectis Pharma, Inc. has a twelve month low of $4.44 and a twelve month high of $11.80. The firm has a fifty day moving average of $9.31 and a two-hundred day moving average of $7.55. The stock has a market cap of $175.72 million, a price-to-earnings ratio of -7.25 and a beta of -0.16.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.03. On average, equities analysts predict that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Insider Transactions at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri purchased 12,444 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $8.59 per share, with a total value of $106,893.96. Following the completion of the transaction, the insider now directly owns 2,896,565 shares in the company, valued at $24,881,493.35. This represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 36,261 shares of company stock worth $301,481. 30.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVCT. Laidlaw began coverage on shares of Nuvectis Pharma in a research note on Monday, March 17th. They issued a "buy" rating and a $19.00 price objective for the company. Maxim Group assumed coverage on Nuvectis Pharma in a report on Wednesday, April 2nd. They issued a "buy" rating and a $17.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $15.00 price target (up previously from $11.00) on shares of Nuvectis Pharma in a research note on Wednesday, April 30th.

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.