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

Nuvectis Pharma, Inc. (NASDAQ:NVCT) major shareholder Marlio Charles Mosseri acquired 35,034 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were bought at an average price of $6.15 per share, for a total transaction of $215,459.10. Following the completion of the transaction, the insider owned 3,063,740 shares of the company’s stock, valued at approximately $18,842,001. This trade represents a 1.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 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 acquired 72,836 shares of Nuvectis Pharma stock. The shares were bought at an average price of $6.28 per share, for a total transaction of $457,410.08.
• On Thursday, October 23rd, Marlio Charles Mosseri purchased 46,900 shares of Nuvectis Pharma stock. The stock was acquired at an average price of $6.06 per share, for a total transaction of $284,214.00.

Nuvectis Pharma Stock Performance

Shares of NASDAQ NVCT opened at $6.77 on Thursday. The business’s 50 day moving average price is $6.26 and its 200-day moving average price is $7.65. Nuvectis Pharma, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $11.80. The company has a market cap of $172.34 million, a price-to-earnings ratio of -5.79 and a beta of -0.29.

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

Analysts Set New Price Targets

NVCT has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuvectis Pharma in a report on Wednesday, October 8th. HC Wainwright reduced their price target on Nuvectis Pharma from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Nuvectis Pharma during the 2nd quarter worth $28,000. JPMorgan Chase & Co. increased its holdings in Nuvectis Pharma by 3,398.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after purchasing an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Nuvectis Pharma during the 2nd quarter worth $53,000. Bank of America Corp DE increased its holdings in Nuvectis Pharma by 417.2% during the 2nd 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 during the period. Finally, New York State Common Retirement Fund purchased a new position in Nuvectis Pharma during the 2nd quarter worth $97,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

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.