Short Interest in Nuvectis Pharma, Inc. (NASDAQ:NVCT) Decreases By 14.1%

Nuvectis Pharma, Inc. (NASDAQ:NVCT) was the recipient of a significant 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. Approximately 11.1% of the company’s stock are sold short. Based on an average daily trading volume, of 107,000 shares, the short-interest ratio is currently 12.5 days.

Nuvectis Pharma Trading Up 6.1 %

NVCT stock traded up $0.55 during midday trading on Thursday, reaching $9.51. 49,563 shares of the company’s stock traded hands, compared to its average volume of 115,887. Nuvectis Pharma has a 52-week low of $4.44 and a 52-week high of $11.80. The stock has a market cap of $222.34 million, a P/E ratio of -8.10 and a beta of 0.23. The stock’s 50-day moving average is $6.84 and its 200 day moving average is $6.47.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). As a group, research analysts expect that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Insider Transactions at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the company’s stock in a transaction dated 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 purchase, the insider now owns 2,884,121 shares in the company, valued at approximately $14,420,605. This represents a 9.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 35.78% of the company’s stock.

Institutional Trading of Nuvectis Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVCT. Cubist Systematic Strategies LLC purchased a new stake in Nuvectis Pharma during the fourth quarter valued at approximately $34,000. Nations Financial Group Inc. IA ADV increased its holdings in Nuvectis Pharma by 35.0% during the fourth 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 during the last quarter. Baxter Bros Inc. increased its stake in shares of Nuvectis Pharma by 20.0% in the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,500 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Nuvectis Pharma in the fourth quarter worth $103,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Nuvectis Pharma in the fourth quarter worth $135,000. 96.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVCT. Laidlaw began coverage on shares of Nuvectis Pharma in a research report on Monday. They set a “buy” rating and a $19.00 price objective on the stock. HC Wainwright lowered their price objective on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

Nuvectis Pharma Company 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.