Nuvectis Pharma, Inc. (NASDAQ:NVCT) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) by 68.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,725 shares of the company’s stock after buying an additional 10,472 shares during the period. Northern Trust Corp owned approximately 0.13% of Nuvectis Pharma worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NVCT. Forbes J M & Co. LLP increased its position in Nuvectis Pharma by 21.9% during the 4th quarter. Forbes J M & Co. LLP now owns 59,000 shares of the company’s stock valued at $319,000 after buying an additional 10,599 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in Nuvectis Pharma by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock valued at $73,000 after buying an additional 3,500 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Nuvectis Pharma during the 4th quarter valued at about $135,000. Baxter Bros Inc. increased its position in 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 buying an additional 2,500 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Nuvectis Pharma by 191.0% during the 4th quarter. Marshall Wace LLP now owns 124,571 shares of the company’s stock valued at $674,000 after buying an additional 81,757 shares in the last quarter. 96.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri bought 12,444 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $8.59 per share, for a total transaction of $106,893.96. Following the completion of the purchase, the insider now directly owns 2,896,565 shares of the company’s stock, valued at $24,881,493.35. This represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 36,261 shares of company stock worth $301,481 over the last quarter. 35.78% of the stock is currently owned by insiders.

Nuvectis Pharma Stock Performance

Shares of NVCT stock opened at $8.94 on Wednesday. The stock’s 50-day simple moving average is $9.36 and its 200-day simple moving average is $7.38. The firm has a market capitalization of $186.79 million, a PE ratio of -7.71 and a beta of -0.11. Nuvectis Pharma, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.03. Sell-side analysts forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Analyst Ratings Changes

NVCT has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price (up from $11.00) on shares of Nuvectis Pharma in a research report on Wednesday, April 30th. Laidlaw assumed coverage on Nuvectis Pharma in a report on Monday, March 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Maxim Group assumed coverage on Nuvectis Pharma in a report on Wednesday, April 2nd. They issued a “buy” rating and a $17.00 price objective on the stock.

Nuvectis Pharma 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.