Nuvectis Pharma (NASDAQ:NVCT) Cut to "Sell" at Wall Street Zen

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

A number of other brokerages have also recently weighed in on NVCT. Laidlaw started coverage on Nuvectis Pharma in a research report on Monday, March 17th. They issued a "buy" rating and a $19.00 price target for the company. Maxim Group started coverage on Nuvectis Pharma in a report on Wednesday, April 2nd. They issued a "buy" rating and a $17.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $15.00 target price (up previously from $11.00) on shares of Nuvectis Pharma in a research report on Wednesday, April 30th.

Nuvectis Pharma Price Performance

NASDAQ:NVCT traded up $0.16 during mid-day trading on Friday, reaching $7.47. The stock had a trading volume of 33,967 shares, compared to its average volume of 133,057. The stock has a market cap of $156.05 million, a P/E ratio of -6.60 and a beta of -0.25. The business's 50 day moving average is $9.09 and its 200 day moving average is $7.84. Nuvectis Pharma has a fifty-two week low of $4.44 and a fifty-two week high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.03. Equities analysts expect that Nuvectis Pharma will post -1.01 EPS for the current year.

Insider Activity

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri acquired 5,603 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average price of $7.99 per share, with a total value of $44,767.97. Following the transaction, the insider owned 2,981,806 shares of the company's stock, valued at approximately $23,824,629.94. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 75,306 shares of company stock valued at $615,781 over the last 90 days. Company insiders own 30.52% of the company's stock.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Nuvectis Pharma during the fourth quarter valued at approximately $34,000. Baxter Bros Inc. raised its holdings in shares of Nuvectis Pharma by 20.0% in the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company's stock valued at $81,000 after buying an additional 2,500 shares during the last quarter. Blue Zone Wealth Advisors LLC bought a new position in shares of Nuvectis Pharma in the first quarter worth about $102,000. Squarepoint Ops LLC acquired a new position in Nuvectis Pharma during the 4th quarter worth $103,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Nuvectis Pharma during the fourth quarter valued at $135,000. Institutional investors 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.