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

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

Several other large investors also recently modified their holdings of NVCT. Baxter Bros Inc. grew its holdings in Nuvectis Pharma by 20.0% in the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company's stock worth $81,000 after purchasing an additional 2,500 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings 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 worth $73,000 after purchasing an additional 3,500 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Nuvectis Pharma in the fourth quarter worth $34,000. Northern Trust Corp grew its holdings in Nuvectis Pharma by 68.7% in the fourth quarter. Northern Trust Corp now owns 25,725 shares of the company's stock worth $139,000 after purchasing an additional 10,472 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in Nuvectis Pharma in the fourth quarter worth $135,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Marlio Charles Mosseri purchased 21,167 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $8.11 per share, for a total transaction of $171,664.37. Following the completion of the acquisition, the insider now owns 2,942,761 shares in the company, valued at $23,865,791.71. This trade represents a 0.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have bought 36,261 shares of company stock worth $301,481. 30.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on NVCT. 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 price target for the company. HC Wainwright reiterated a "buy" rating and set a $15.00 price objective (up from $11.00) on shares of Nuvectis Pharma in a report on Wednesday, April 30th. Finally, 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 objective for the company.

Nuvectis Pharma Price Performance

Shares of NASDAQ NVCT traded up $0.23 during mid-day trading on Monday, reaching $8.64. 79,296 shares of the company's stock traded hands, compared to its average volume of 129,566. The stock has a market cap of $180.52 million, a P/E ratio of -7.45 and a beta of -0.16. The business has a 50-day simple moving average of $9.32 and a 200 day simple moving average of $7.63. Nuvectis Pharma, Inc. has a 1-year low of $4.44 and a 1-year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.03. Equities research analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal 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.