Nuvectis Pharma (NASDAQ:NVCT) Given New $10.00 Price Target at HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT) had its price target trimmed by HC Wainwright from $15.00 to $10.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Wall Street Zen downgraded Nuvectis Pharma from a “hold” rating to a “sell” rating in a report on Sunday, June 29th.

Nuvectis Pharma Stock Up 7.2%

NVCT stock opened at $7.29 on Monday. The firm has a market cap of $152.29 million, a price-to-earnings ratio of -6.45 and a beta of -0.26. The company’s fifty day simple moving average is $8.14 and its 200 day simple moving average is $8.26. Nuvectis Pharma has a 12-month low of $4.44 and a 12-month high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) 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. Research analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Marlio Charles Mosseri purchased 5,603 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was purchased at an average cost of $7.99 per share, with a total value of $44,767.97. Following the completion of the purchase, the insider owned 2,981,806 shares in the company, valued at approximately $23,824,629.94. This trade represents a 0.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 62,862 shares of company stock valued at $508,887 in the last ninety days. Company insiders own 30.52% of the company’s stock.

Institutional Trading of Nuvectis Pharma

Several large investors have recently made changes to their positions in NVCT. Marshall Wace LLP raised its holdings in Nuvectis Pharma by 191.0% during the fourth quarter. Marshall Wace LLP now owns 124,571 shares of the company’s stock worth $674,000 after buying an additional 81,757 shares during the last quarter. Northern Trust Corp raised its stake in shares of Nuvectis Pharma by 68.7% during the 4th quarter. Northern Trust Corp now owns 25,725 shares of the company’s stock worth $139,000 after purchasing an additional 10,472 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Nuvectis Pharma during the 4th quarter worth $34,000. Squarepoint Ops LLC purchased a new position in shares of Nuvectis Pharma in the 4th quarter worth about $103,000. Finally, Blue Zone Wealth Advisors LLC bought a new position in Nuvectis Pharma during the first quarter valued at about $102,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.

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.