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

Nuvectis Pharma, Inc. (NASDAQ:NVCT) saw 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 short-interest ratio is currently 8.0 days. Approximately 16.2% of the company’s stock are short sold.

Insider Buying and Selling at Nuvectis Pharma

In related news, CEO Ron Bentsur bought 20,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $4.92 per share, for a total transaction of $98,400.00. Following the purchase, the chief executive officer now owns 3,266,424 shares in the company, valued at $16,070,806.08. This trade represents a 0.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 35.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Nuvectis Pharma in the 2nd quarter worth approximately $58,000. Nations Financial Group Inc. IA ADV bought a new position in shares of Nuvectis Pharma in the third quarter worth $63,000. Baxter Bros Inc. acquired a new position in shares of Nuvectis Pharma during the second quarter valued at $79,000. GSA Capital Partners LLP raised its stake in shares of Nuvectis Pharma by 3.7% during the third quarter. GSA Capital Partners LLP now owns 50,129 shares of the company’s stock valued at $315,000 after purchasing an additional 1,790 shares in the last quarter. Finally, Iridian Asset Management LLC CT bought a new stake in shares of Nuvectis Pharma during the third quarter valued at about $348,000. Institutional investors own 96.77% of the company’s stock.

Analysts Set New Price Targets

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

Nuvectis Pharma Trading Down 4.5 %

NASDAQ:NVCT opened at $5.04 on Monday. Nuvectis Pharma has a 52 week low of $4.61 and a 52 week high of $12.10. The stock has a 50 day moving average of $6.83 and a 200-day moving average of $6.67. The firm has a market capitalization of $97.37 million, a PE ratio of -4.34 and a beta of 0.41.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.01. During the same quarter in the prior year, the business posted ($0.37) EPS. As a group, analysts predict that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

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.