Insider Buying: Nuvectis Pharma (NASDAQ:NVCT) CEO Purchases $28,600.00 in Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) CEO Ron Bentsur bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was acquired at an average cost of $5.72 per share, with a total value of $28,600.00. Following the completion of the transaction, the chief executive officer directly owned 3,525,924 shares of the company’s stock, valued at approximately $20,168,285.28. This represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nuvectis Pharma Trading Up 8.3%

Nuvectis Pharma stock opened at $6.14 on Friday. Nuvectis Pharma, Inc. has a 1-year low of $4.44 and a 1-year high of $11.80. The firm’s fifty day simple moving average is $6.20 and its 200-day simple moving average is $7.51. The company has a market capitalization of $157.25 million, a P/E ratio of -4.48 and a beta of -0.28.

Nuvectis Pharma (NASDAQ:NVCT) last posted its earnings results on Tuesday, November 4th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.20). On average, equities research analysts predict that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NVCT shares. HC Wainwright decreased their target price on Nuvectis Pharma from $15.00 to $10.00 and set a “buy” rating for the company in a research 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Nuvectis Pharma by 4.8% during the third quarter. Vanguard Group Inc. now owns 698,708 shares of the company’s stock worth $4,206,000 after buying an additional 31,903 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in Nuvectis Pharma by 8.8% during 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 last quarter. Geode Capital Management LLC raised its stake in Nuvectis Pharma by 110.8% during the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock valued at $2,132,000 after purchasing an additional 149,999 shares during the last quarter. Marshall Wace LLP boosted its holdings in 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. Finally, Goldman Sachs Group Inc. acquired a new stake in Nuvectis Pharma in the 1st quarter worth $446,000. 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.