Nuvectis Pharma (NASDAQ:NVCT) Issues Earnings Results, Misses Expectations By $0.08 EPS

Nuvectis Pharma (NASDAQ:NVCT) announced its quarterly earnings results on Tuesday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08), Zacks reports.

Nuvectis Pharma Stock Up 0.2 %

NVCT opened at $6.35 on Thursday. The firm’s 50 day moving average is $6.40 and its 200-day moving average is $6.41. Nuvectis Pharma has a 52-week low of $4.44 and a 52-week high of $12.10. The firm has a market capitalization of $148.54 million, a P/E ratio of -5.47 and a beta of 0.22.

Insider Activity

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri acquired 17,000 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $4.70 per share, for a total transaction of $79,900.00. Following the purchase, the insider now directly owns 2,612,000 shares in the company, valued at $12,276,400. This trade represents a 0.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders bought 261,500 shares of company stock worth $1,300,825. 35.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, HC Wainwright decreased their target price on Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th.

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.