Nuvectis Pharma, Inc. $NVCT Shares Acquired by Iridian Asset Management LLC CT

Key Points

• Iridian Asset Management LLC CT boosted its stake in Nuvectis Pharma by 44.5% in Q4 to 586,320 shares (2.29% of the company), worth about $4.43 million, making NVCT its 23rd-largest holding.
• Institutional ownership is high—96.77% of NVCT is held by hedge funds and other institutions, with recent increases from Vanguard, Geode, Baldwin Wealth and Marshall Wace and a new position by Goldman Sachs.
• Analysts have a consensus "Hold" with an average price target of $10.00; Nuvectis reported a Q4 EPS loss of $0.31 (miss) and the stock trades near $8.22 with a ~$218 million market cap.

Iridian Asset Management LLC CT increased its holdings in Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) by 44.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 586,320 shares of the company's stock after acquiring an additional 180,699 shares during the quarter. Nuvectis Pharma makes up about 1.6% of Iridian Asset Management LLC CT's holdings, making the stock its 23rd biggest position. Iridian Asset Management LLC CT owned 2.29% of Nuvectis Pharma worth $4,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Nuvectis Pharma by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 698,708 shares of the company's stock valued at $4,206,000 after buying an additional 31,903 shares during the last quarter. Baldwin Wealth Partners LLC MA grew its position in Nuvectis Pharma by 11.2% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 389,625 shares of the company's stock valued at $2,942,000 after buying an additional 39,164 shares during the last quarter. Geode Capital Management LLC grew its position in Nuvectis Pharma by 110.8% in the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company's stock valued at $2,132,000 after buying an additional 149,999 shares during the last quarter. Marshall Wace LLP grew its position in Nuvectis Pharma by 63.6% in the 2nd quarter. Marshall Wace LLP now owns 63,613 shares of the company's stock valued at $475,000 after buying an additional 24,739 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Nuvectis Pharma in the 1st quarter valued at $446,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Nuvectis Pharma in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $10.00.

Nuvectis Pharma Price Performance

NASDAQ:NVCT opened at $8.22 on Monday. The firm has a market cap of $217.76 million, a price-to-earnings ratio of -6.23 and a beta of -0.21. Nuvectis Pharma, Inc. has a 1-year low of $5.55 and a 1-year high of $11.52. The firm's fifty day moving average price is $8.49 and its 200 day moving average price is $7.50.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.05). As a group, analysts expect that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Nuvectis Pharma Company Profile

Nuvectis Pharma is a clinical-stage biotechnology company focused on the development of novel peptide-based therapeutics using its proprietary Cellporting delivery platform. The company’s core technology is designed to facilitate the transport of therapeutic proteins and peptides across cellular membranes and into target intracellular compartments, including the nucleus. By overcoming a key barrier in biologics delivery, Nuvectis aims to expand the range of treatable diseases with macromolecular drugs that have traditionally been limited by poor cellular uptake.

The Nuvectis pipeline encompasses multiple preclinical and early-stage clinical programs targeting rare genetic and metabolic disorders.

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