Nuvectis Pharma, Inc. (NASDAQ:NVCT) Short Interest Update

Nuvectis Pharma, Inc. (NASDAQ:NVCT) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 1,390,000 shares, an increase of 23.0% from the October 31st total of 1,130,000 shares. Based on an average daily volume of 174,100 shares, the days-to-cover ratio is presently 8.0 days. Approximately 16.2% of the shares of the stock are sold short.

Nuvectis Pharma Trading Down 1.2 %

NVCT traded down $0.06 during midday trading on Monday, reaching $4.98. The company’s stock had a trading volume of 15,891 shares, compared to its average volume of 117,957. The firm has a market capitalization of $96.22 million, a price-to-earnings ratio of -4.32 and a beta of 0.41. Nuvectis Pharma has a 1 year low of $4.61 and a 1 year high of $12.10. The stock’s 50-day moving average is $6.83 and its 200-day moving average is $6.67.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.01. During the same period in the previous year, the company earned ($0.37) earnings per share. As a group, equities research analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvectis Pharma

In related news, CEO Ron Bentsur acquired 20,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $4.92 per share, with a total value of $98,400.00. Following the transaction, the chief executive officer now directly owns 3,266,424 shares of the company’s stock, valued at $16,070,806.08. This trade represents a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 35.78% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

Several institutional investors have recently bought and sold shares of NVCT. Vanguard Group Inc. raised its holdings in shares of Nuvectis Pharma by 1.5% in the first quarter. Vanguard Group Inc. now owns 298,800 shares of the company’s stock worth $2,450,000 after buying an additional 4,517 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Nuvectis Pharma by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 74,500 shares of the company’s stock worth $472,000 after acquiring an additional 12,800 shares during the last quarter. Nations Financial Group Inc. IA ADV purchased a new stake in Nuvectis Pharma in the third quarter valued at $63,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Nuvectis Pharma during the second quarter valued at about $58,000. Finally, Geode Capital Management LLC grew its stake in shares of Nuvectis Pharma by 49.8% in the third quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock valued at $501,000 after buying an additional 26,489 shares in the last quarter. 96.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Nuvectis Pharma in a report on Tuesday, August 6th.

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.