Baxter Bros Inc. Boosts Position in Nuvectis Pharma, Inc. (NASDAQ:NVCT)

Baxter Bros Inc. lifted its position in Nuvectis Pharma, Inc. (NASDAQ:NVCT) by 20.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Baxter Bros Inc.’s holdings in Nuvectis Pharma were worth $81,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV grew its position 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 worth $73,000 after buying an additional 3,500 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Nuvectis Pharma in the fourth quarter valued at approximately $135,000. Forbes J M & Co. LLP lifted its position in Nuvectis Pharma by 21.9% during the fourth quarter. Forbes J M & Co. LLP now owns 59,000 shares of the company’s stock valued at $319,000 after purchasing an additional 10,599 shares during the last quarter. Geode Capital Management LLC grew its stake in Nuvectis Pharma by 49.8% in the 3rd quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock worth $501,000 after buying an additional 26,489 shares in the last quarter. Finally, Baldwin Wealth Partners LLC MA grew its stake in Nuvectis Pharma by 104.4% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock worth $1,926,000 after buying an additional 181,831 shares in the last quarter. 96.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVCT has been the subject of a number of research analyst reports. HC Wainwright dropped their price objective on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Laidlaw assumed coverage on Nuvectis Pharma in a research note on Monday, March 17th. They set a “buy” rating and a $19.00 price target for the company.

Nuvectis Pharma Price Performance

Shares of NASDAQ NVCT opened at $8.68 on Wednesday. The stock has a market capitalization of $203.04 million, a P/E ratio of -7.48 and a beta of 0.23. Nuvectis Pharma, Inc. has a one year low of $4.44 and a one year high of $11.80. The firm’s 50 day simple moving average is $7.13 and its two-hundred day simple moving average is $6.55.

Nuvectis Pharma (NASDAQ:NVCT) last issued 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, equities analysts expect that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the business’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 acquisition, the insider now owns 2,884,121 shares of the company’s stock, valued at approximately $14,420,605. This trade represents a 9.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 35.78% of the stock is currently owned by corporate insiders.

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.