Nuvectis Pharma (NASDAQ:NVCT) Rating Increased to Hold at Wall Street Zen

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the company. Laidlaw assumed coverage on Nuvectis Pharma in a report on Monday, March 17th. They issued a "buy" rating and a $19.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $15.00 price target (up from $11.00) on shares of Nuvectis Pharma in a report on Wednesday, April 30th. Finally, Maxim Group assumed coverage on Nuvectis Pharma in a report on Wednesday, April 2nd. They set a "buy" rating and a $17.00 price objective for the company.

Nuvectis Pharma Price Performance

NASDAQ NVCT traded up $0.02 on Friday, hitting $7.98. 71,667 shares of the company were exchanged, compared to its average volume of 128,990. Nuvectis Pharma has a twelve month low of $4.44 and a twelve month high of $11.80. The company's 50 day moving average price is $9.25 and its 200-day moving average price is $7.74. The firm has a market capitalization of $166.70 million, a P/E ratio of -7.06 and a beta of -0.16.

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

Insider Activity

In other news, major shareholder Marlio Charles Mosseri acquired 5,603 shares of Nuvectis Pharma stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $7.99 per share, for a total transaction of $44,767.97. Following the completion of the purchase, the insider now owns 2,981,806 shares of the company's stock, valued at $23,824,629.94. This represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 75,306 shares of company stock worth $615,781. 30.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Nuvectis Pharma during the 1st quarter worth about $413,000. Goldman Sachs Group Inc. acquired a new position in shares of Nuvectis Pharma during the first quarter worth approximately $446,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Nuvectis Pharma in the first quarter valued at approximately $321,000. Austin Wealth Management LLC bought a new stake in shares of Nuvectis Pharma in the first quarter valued at approximately $393,000. Finally, Iridian Asset Management LLC CT bought a new position in Nuvectis Pharma during the first quarter worth $2,481,000. 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.