Nuvectis Pharma, Inc. (NASDAQ:NVCT) Short Interest Up 23.0% in November

Nuvectis Pharma, Inc. (NASDAQ:NVCT) saw a significant increase in short interest during the month of 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. Approximately 16.2% of the company’s stock are short sold. Based on an average daily trading volume, of 174,100 shares, the days-to-cover ratio is presently 8.0 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Nuvectis Pharma

In related news, CEO Ron Bentsur purchased 20,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $16,070,806.08. This trade represents a 0.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 35.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Nuvectis Pharma by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 298,800 shares of the company’s stock valued at $2,450,000 after acquiring an additional 4,517 shares during the period. Renaissance Technologies LLC raised its holdings in Nuvectis Pharma by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 74,500 shares of the company’s stock valued at $472,000 after acquiring an additional 12,800 shares during the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in Nuvectis Pharma in the 3rd quarter worth approximately $63,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Nuvectis Pharma in the second quarter valued at approximately $58,000. Finally, Geode Capital Management LLC lifted its position in Nuvectis Pharma by 49.8% during the third quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock worth $501,000 after buying an additional 26,489 shares in the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Stock Down 4.5 %

Shares of 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 market cap of $97.38 million, a price-to-earnings ratio of -4.34 and a beta of 0.41. The business has a 50-day moving average price of $6.83 and a 200-day moving average price of $6.67.

Nuvectis Pharma (NASDAQ:NVCT) last posted its earnings results on Tuesday, November 5th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. During the same quarter last year, the company earned ($0.37) EPS. As a group, equities analysts anticipate 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.