Juan Sanchez Buys 13,000 Shares of Nuvectis Pharma (NASDAQ:NVCT) Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) Director Juan Sanchez bought 13,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average price of $5.79 per share, for a total transaction of $75,270.00. Following the completion of the transaction, the director directly owned 78,150 shares in the company, valued at approximately $452,488.50. This trade represents a 19.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Nuvectis Pharma Trading Up 8.3%

NASDAQ NVCT opened at $6.14 on Friday. The stock has a market capitalization of $157.28 million, a price-to-earnings ratio of -4.48 and a beta of -0.28. The stock has a 50-day moving average of $6.20 and a 200 day moving average of $7.52. Nuvectis Pharma, Inc. has a twelve month low of $4.44 and a twelve month high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.20). Equities analysts predict that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvectis Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVCT. Iridian Asset Management LLC CT acquired a new stake in shares of Nuvectis Pharma in the first quarter valued at about $2,481,000. Geode Capital Management LLC boosted its holdings in shares of Nuvectis Pharma by 110.8% during the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock worth $2,132,000 after purchasing an additional 149,999 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Nuvectis Pharma during the 1st quarter worth approximately $446,000. Jane Street Group LLC purchased a new stake in shares of Nuvectis Pharma in the first quarter valued at approximately $413,000. Finally, Austin Wealth Management LLC acquired a new stake in shares of Nuvectis Pharma in the first quarter valued at approximately $393,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvectis Pharma in a research report on Wednesday, October 8th. HC Wainwright cut their target price on shares of Nuvectis Pharma from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.33.

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.