Sabby Management LLC recently announced the acquisition of new stake in Nuvectis Pharma Inc. (NASDAQ:NVCT). This fresh investment now brings its stake to 4.32% valued currently at $4.75 million. In addition, Ronit Capital LLP raised its holdings by 0.14 million to 0.56 million shares. And Baldwin Brothers, Inc. has lifted its position by 9.92% or 12000.0 shares – to 0.13 million shares.
With over 0.19 million Nuvectis Pharma Inc. (NVCT) shares trading Tuesday and a closing price of $7.60 on the day, the dollar volume was approximately $1.48 million. The shares have shown a negative half year performance of -37.50% and its price on 01/24/23 gained nearly 0.66%. Currently, there are 14.05M common shares owned by the public and among those 6.82M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for NVCT have a consensus price objective of $20.67. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $20.00. The average price target is 63.23% above its recent price level and an upside to the estimated low will see the stock gain 62.0% over that period. But an upside of 63.81% will see the stock hit the forecast high price target while median target price for the stock is $21.00.
Insiders at the company have transacted a total of 69 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 69 of these insider trades were purchases, accounting for 593,466 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Nuvectis Pharma Inc. are Vanguard Total Stock Market Index, Fidelity Extended Market Index Fu, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.18 million shares of the company’s stock, all valued at over $1.36 million. The company bought an additional 99300.0 shares recently to bring their total holdings to about 1.24% of the shares outstanding. Vanguard Extended Market Index Fu bought 73.0 shares to bring its total holdings to over 12933.0 shares at a value of $96998.0. Vanguard Extended Market Index Fu now owns shares totaling to 0.09% of the shares outstanding.
Shares of Nuvectis Pharma Inc. (NASDAQ: NVCT) opened at $7.64, up $0.09 from a prior closing price of $7.55. However, the script later moved the day high at 7.72, up 0.66%. The company’s stock has a 5-day price change of 1.33% and 11.11% over the past three months. It has a 12-month low price of $3.08 and touched a high of $20.92 over the same period. NVCT has an average intraday trading volume of 17.95K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.43%, 3.08%, and -19.91% respectively.
Institutional ownership of Nuvectis Pharma Inc. (NASDAQ: NVCT) shares accounts for 19.10% of the company’s 14.05M shares outstanding. Mutual fund holders own 41.58%, while other institutional holders and individual stakeholders account for 8.07% and 1.61% respectively.
It has a market capitalization of $111.49M. The earnings-per-share (ttm) stands at -$2.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.52% over the week and 5.08% over the month.
Analysts forecast that Nuvectis Pharma Inc. (NVCT) will achieve an EPS of -$0.27 for the current quarter, -$0.27 for the next quarter and -$1.17 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.28 while analysts give the company a high EPS estimate of -$0.26. Earnings per share for the fiscal year are expected to increase by 53.30%, and -9.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Nuvectis Pharma Inc. (NVCT) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NVCT, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Buy rating for the stock in a research note on July 13, 2022, with the firm’s price target at $21.