Nuvectis Pharma (NASDAQ:NVCT) Given New $10.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has lowered the price target for Nuvectis Pharma (NASDAQ:NVCT) from $15.00 to $10.00 while maintaining a "buy" rating, suggesting a potential upside of 42.25% from its last close.
• In a separate report, Wall Street Zen downgraded Nuvectis Pharma from a "hold" to a "sell" rating ahead of its quarterly results.
• Nuvectis Pharma's major shareholder, Marlio Charles Mosseri, recently acquired 5,603 shares at an average price of $7.99, increasing their total ownership of the company stock.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) had its target price lowered by equities research analysts at HC Wainwright from $15.00 to $10.00 in a note issued to investors on Monday, Marketbeat reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 66.67% from the company's previous close.

Separately, Wall Street Zen lowered shares of Nuvectis Pharma from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th.

Nuvectis Pharma Stock Performance

Shares of NVCT stock traded down $0.17 during trading on Monday, hitting $6.00. 177,460 shares of the company were exchanged, compared to its average volume of 226,409. The firm has a market capitalization of $152.76 million, a price-to-earnings ratio of -5.13 and a beta of -0.26. The business's 50-day simple moving average is $7.90 and its 200 day simple moving average is $8.24. Nuvectis Pharma 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, August 5th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). On average, equities analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri bought 5,603 shares of the business's stock in a transaction on Friday, June 20th. The shares were bought at an average cost of $7.99 per share, for a total transaction of $44,767.97. Following the transaction, the insider owned 2,981,806 shares in the company, valued at approximately $23,824,629.94. This trade represents a 0.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 60,212 shares of company stock worth $485,964 over the last quarter. 30.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Several institutional investors and hedge funds have recently made changes to their positions in NVCT. Police & Firemen s Retirement System of New Jersey bought a new position in Nuvectis Pharma in the second quarter valued at approximately $28,000. Cubist Systematic Strategies LLC acquired a new stake in Nuvectis Pharma in the 4th quarter valued at approximately $34,000. Blue Zone Wealth Advisors LLC acquired a new stake in Nuvectis Pharma in the 1st quarter valued at approximately $102,000. Squarepoint Ops LLC acquired a new stake in Nuvectis Pharma in the 4th quarter valued at approximately $103,000. Finally, Northern Trust Corp raised its position in 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 last quarter. Institutional investors and hedge funds own 96.77% of the company's stock.

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.