Marlio Charles Mosseri Purchases 35,034 Shares of Nuvectis Pharma (NASDAQ:NVCT) Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) major shareholder Marlio Charles Mosseri bought 35,034 shares of Nuvectis Pharma stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average cost of $6.15 per share, with a total value of $215,459.10. Following the completion of the purchase, the insider owned 3,063,740 shares in the company, valued at approximately $18,842,001. This trade represents a 1.16% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Marlio Charles Mosseri also recently made the following trade(s):

• On Monday, October 27th, Marlio Charles Mosseri bought 72,836 shares of Nuvectis Pharma stock. The stock was bought at an average cost of $6.28 per share, with a total value of $457,410.08.
• On Thursday, October 23rd, Marlio Charles Mosseri bought 46,900 shares of Nuvectis Pharma stock. The stock was bought at an average cost of $6.06 per share, with a total value of $284,214.00.

Nuvectis Pharma Trading Down 1.9%

Shares of NASDAQ NVCT opened at $6.64 on Friday. The firm has a market cap of $169.05 million, a PE ratio of -5.68 and a beta of -0.29. Nuvectis Pharma, Inc. has a 1-year low of $4.44 and a 1-year high of $11.80. The company has a fifty day moving average price of $6.27 and a 200 day moving average price of $7.64.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results on Tuesday, August 5th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Equities research analysts forecast that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Nuvectis Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. Iridian Asset Management LLC CT raised its holdings in shares of Nuvectis Pharma by 8.8% in the 3rd quarter. Iridian Asset Management LLC CT now owns 405,621 shares of the company’s stock valued at $2,442,000 after purchasing an additional 32,904 shares during the period. Marex Group plc bought a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at about $112,000. Bank of America Corp DE raised its holdings in shares of Nuvectis Pharma by 417.2% in the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after purchasing an additional 6,909 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at about $53,000. Finally, Marshall Wace LLP raised its holdings in shares of Nuvectis Pharma by 63.6% in the 2nd quarter. Marshall Wace LLP now owns 63,613 shares of the company’s stock valued at $475,000 after purchasing an additional 24,739 shares during the period. 96.77% of the stock is owned by institutional investors.

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.