Nuvectis Pharma (NASDAQ:NVCT) Trading 5.3% Higher - Should You Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report)'s share price was up 5.3% on Thursday . The stock traded as high as $11.29 and last traded at $10.96. Approximately 272,867 shares traded hands during trading, an increase of 121% from the average daily volume of 123,660 shares. The stock had previously closed at $10.41.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVCT shares. Laidlaw assumed coverage on Nuvectis Pharma in a research note on Monday, March 17th. They issued a "buy" rating and a $19.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $15.00 price objective (up previously from $11.00) on shares of Nuvectis Pharma in a research note on Wednesday. Finally, Maxim Group began coverage on Nuvectis Pharma in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $17.00 price target on the stock.

Nuvectis Pharma Trading Down 3.6 %

The stock's 50 day moving average price is $8.60 and its two-hundred day moving average price is $7.11. The firm has a market capitalization of $232.98 million, a price-to-earnings ratio of -8.59 and a beta of -0.11.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.08). On average, sell-side analysts forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the firm's stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $1,200,000.00. Following the transaction, the insider now owns 2,884,121 shares in the company, valued at approximately $14,420,605. This trade represents a 9.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 35.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in Nuvectis Pharma during the 4th quarter worth about $34,000. Nations Financial Group Inc. IA ADV lifted its stake in shares of Nuvectis Pharma by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company's stock valued at $73,000 after purchasing an additional 3,500 shares during the last quarter. Baxter Bros Inc. increased its holdings in shares of Nuvectis Pharma by 20.0% during the 4th quarter. Baxter Bros Inc. now owns 15,000 shares of the company's stock valued at $81,000 after acquiring 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 valued at approximately $102,000. Finally, Squarepoint Ops LLC acquired a new position in Nuvectis Pharma during the 4th quarter worth $103,000. Institutional investors and hedge funds own 96.77% of the company's stock.

About Nuvectis Pharma

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.