Nuvectis Pharma, Inc. (NASDAQ:NVCT) Sees Large Decline in Short Interest

Nuvectis Pharma, Inc. (NASDAQ:NVCT) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 1,340,000 shares, a decrease of 14.1% from the February 13th total of 1,560,000 shares. Currently, 11.1% of the shares of the stock are sold short. Based on an average daily volume of 107,000 shares, the days-to-cover ratio is presently 12.5 days.

Nuvectis Pharma Trading Up 4.4 %

Nuvectis Pharma stock opened at $9.35 on Friday. Nuvectis Pharma has a 12-month low of $4.44 and a 12-month high of $11.80. The firm has a market capitalization of $218.72 million, a price-to-earnings ratio of -8.06 and a beta of 0.23. The firm has a 50 day moving average of $6.96 and a 200 day moving average of $6.50.

Nuvectis Pharma (NASDAQ:NVCT) last issued its earnings results on Tuesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). On average, analysts predict that Nuvectis Pharma will post -1.01 EPS for the current year.

Insider Transactions at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri acquired 240,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $5.00 per share, for a total transaction of $1,200,000.00. Following the completion of the transaction, the insider now owns 2,884,121 shares of the company’s stock, valued at $14,420,605. The trade was a 9.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

Several large investors have recently bought and sold shares of NVCT. Squarepoint Ops LLC bought a new stake in shares of Nuvectis Pharma during the 4th quarter worth approximately $103,000. Cubist Systematic Strategies LLC purchased a new stake in Nuvectis Pharma in the fourth quarter worth $34,000. Northern Trust Corp increased its stake in Nuvectis Pharma by 68.7% in the fourth 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. Marshall Wace LLP lifted its position in shares of 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 purchasing an additional 81,757 shares during the last quarter. Finally, Baxter Bros Inc. boosted its stake in shares of Nuvectis Pharma by 20.0% during the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock valued at $81,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 96.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NVCT. HC Wainwright lowered their price objective on Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Laidlaw initiated coverage on Nuvectis Pharma in a report on Monday. They set a “buy” rating and a $19.00 price target for the company.

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.