Iridian Asset Management LLC CT Invests $348,000 in Nuvectis Pharma, Inc. (NASDAQ:NVCT)

Iridian Asset Management LLC CT purchased a new position in Nuvectis Pharma, Inc. (NASDAQ:NVCT) during the third quarter, HoldingsChannel reports. The fund purchased 55,380 shares of the company’s stock, valued at approximately $348,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Nuvectis Pharma by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 298,800 shares of the company’s stock worth $2,450,000 after acquiring an additional 4,517 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Nuvectis Pharma by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 74,500 shares of the company’s stock worth $472,000 after acquiring an additional 12,800 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter worth approximately $58,000. Baxter Bros Inc. acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter worth approximately $79,000. Finally, Baldwin Brothers LLC MA grew its holdings in shares of Nuvectis Pharma by 9.4% in the 2nd quarter. Baldwin Brothers LLC MA now owns 168,630 shares of the company’s stock worth $1,067,000 after acquiring an additional 14,500 shares during the period. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Stock Performance

Nuvectis Pharma stock opened at $7.89 on Thursday. The stock has a fifty day moving average of $6.79 and a two-hundred day moving average of $6.66. The company has a market capitalization of $147.17 million, a price-to-earnings ratio of -6.12 and a beta of 0.46. Nuvectis Pharma, Inc. has a fifty-two week low of $5.85 and a fifty-two week high of $12.10.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). On average, analysts forecast that Nuvectis Pharma, Inc. will post -1.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.