Marlio Charles Mosseri Purchases 72,836 Shares of Nuvectis Pharma (NASDAQ:NVCT) Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) major shareholder Marlio Charles Mosseri purchased 72,836 shares of the company’s stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $6.28 per share, for a total transaction of $457,410.08. Following the purchase, the insider owned 3,136,576 shares in the company, valued at approximately $19,697,697.28. The trade was a 2.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 24th, Marlio Charles Mosseri purchased 35,034 shares of Nuvectis Pharma stock. The shares were purchased at an average price of $6.15 per share, for a total transaction of $215,459.10.
• On Thursday, October 23rd, Marlio Charles Mosseri purchased 46,900 shares of Nuvectis Pharma stock. The shares were purchased at an average price of $6.06 per share, for a total transaction of $284,214.00.

Nuvectis Pharma Stock Performance

Nuvectis Pharma stock opened at $6.64 on Friday. The business’s 50-day simple moving average is $6.27 and its two-hundred day simple moving average is $7.64. The company 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 fifty-two week low of $4.44 and a fifty-two week high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, analysts predict that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Nuvectis Pharma

A number of hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in Nuvectis Pharma during the second quarter worth approximately $28,000. JPMorgan Chase & Co. boosted its position in Nuvectis Pharma by 3,398.9% during the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after purchasing an additional 6,084 shares in the last quarter. Bank of America Corp DE boosted its position in Nuvectis Pharma by 417.2% during the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock worth $64,000 after purchasing an additional 6,909 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Nuvectis Pharma during the second quarter worth approximately $53,000. Finally, New York State Common Retirement Fund purchased a new position in Nuvectis Pharma during the second quarter worth approximately $97,000. Hedge funds and other institutional investors own 96.77% of the company’s stock.

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.