Nuvectis Pharma (NASDAQ:NVCT) Receives “Buy” Rating from HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $21.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 229.15% from the stock’s previous close.

Nuvectis Pharma Trading Down 0.8 %

Shares of NVCT opened at $6.38 on Wednesday. The stock has a 50 day moving average of $8.10 and a 200 day moving average of $8.20. The company has a market capitalization of $117.21 million, a price-to-earnings ratio of -4.46 and a beta of 0.45. Nuvectis Pharma has a 12 month low of $5.92 and a 12 month high of $18.65.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results on Tuesday, March 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.01). As a group, equities research analysts predict that Nuvectis Pharma will post -1.52 earnings per share for the current year.

Insider Activity

In related news, CEO Ron Bentsur purchased 5,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were bought at an average price of $10.29 per share, with a total value of $51,450.00. Following the acquisition, the chief executive officer now owns 3,242,484 shares of the company’s stock, valued at approximately $33,365,160.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 38.85% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baldwin Brothers LLC MA increased its stake in shares of Nuvectis Pharma by 22.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 142,040 shares of the company’s stock worth $1,185,000 after purchasing an additional 25,660 shares in the last quarter. Strs Ohio boosted its holdings in Nuvectis Pharma by 59.0% in the 4th quarter. Strs Ohio now owns 6,200 shares of the company’s stock worth $51,000 after buying an additional 2,300 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in Nuvectis Pharma in the 1st quarter valued at approximately $118,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Nuvectis Pharma during the 4th quarter valued at $160,000. 96.77% of the stock is currently owned by institutional investors.

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.