Nuvectis Pharma, Inc. (NASDAQ:NVCT) Short Interest Update

Key Points

• Nuvectis Pharma, Inc. experienced a significant decline in short interest, with a drop of 59.8% in July, reducing to 1,060,000 shares by the end of the month.
• Research analysts have given mixed ratings, with Wall Street Zen downgrading the stock from "hold" to "sell," while HC Wainwright has set a reduced target price of $10.00 with a "buy" rating.
• Insiders and institutional investors are actively trading the stock, with major shareholder Marlio Charles Mosseri acquiring 28,043 shares recently, and large investors like Oppenheimer & Co. increasing their stake by 64%.

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 1,060,000 shares, adropof59.8% from the July 15th total of 2,640,000 shares. Based on an average daily trading volume, of 172,100 shares, the short-interest ratio is currently 6.2 days. Approximately7.7% of the shares of the company are sold short. Approximately7.7% of the shares of the company are sold short. Based on an average daily trading volume, of 172,100 shares, the short-interest ratio is currently 6.2 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Nuvectis Pharma from a "hold" rating to a "sell" rating in a research note on Sunday, June 29th. HC Wainwright cut their target price on shares of Nuvectis Pharma from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, August 4th.

Insiders Place Their Bets

In other news, major shareholder Marlio Charles Mosseri acquired 28,043 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were purchased at an average cost of $8.05 per share, for a total transaction of $225,746.15. Following the transaction, the insider directly owned 2,976,203 shares in the company, valued at approximately $23,958,434.15. This represents a 0.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 39,045 shares of company stock valued at $314,300. Company insiders own 30.52% of the company's stock.

Institutional Investors Weigh In On Nuvectis Pharma

Large investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. increased its position in Nuvectis Pharma by 64.0% in the first quarter. Oppenheimer & Co. Inc. now owns 41,000 shares of the company's stock worth $401,000 after buying an additional 16,000 shares during the period. Northern Trust Corp grew 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 worth $139,000 after purchasing an additional 10,472 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Nuvectis Pharma in the fourth quarter worth $34,000. Squarepoint Ops LLC bought a new position in shares of Nuvectis Pharma in the fourth quarter worth $103,000. Finally, Marshall Wace LLP grew 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 worth $674,000 after purchasing an additional 81,757 shares in the last quarter. 96.77% of the stock is owned by institutional investors and hedge funds.

Nuvectis Pharma Price Performance

Shares of NVCT stock remained flat at $6.43 on Friday. The company had a trading volume of 51,266 shares, compared to its average volume of 234,726. The company has a market cap of $163.71 million, a P/E ratio of -5.50 and a beta of -0.26. Nuvectis Pharma has a twelve month low of $4.44 and a twelve month high of $11.80. The stock's fifty day moving average is $7.65 and its two-hundred day moving average is $8.24.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). On average, analysts predict that Nuvectis Pharma 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.

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