Nuvectis Pharma (NASDAQ:NVCT) Releases Earnings Results, Misses Estimates By $0.08 EPS

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

Nuvectis Pharma Trading Up 3.3 %

NVCT opened at $6.34 on Wednesday. Nuvectis Pharma has a 12 month low of $4.44 and a 12 month high of $12.10. The business’s 50-day moving average price is $6.37 and its 200-day moving average price is $6.41. The company has a market cap of $148.31 million, a P/E ratio of -5.47 and a beta of 0.22.

Insider Activity at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri purchased 17,000 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $4.70 per share, with a total value of $79,900.00. Following the transaction, the insider now directly owns 2,612,000 shares of the company’s stock, valued at approximately $12,276,400. This trade represents a 0.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 261,500 shares of company stock worth $1,300,825 in the last ninety days. 35.78% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, HC Wainwright cut their price objective on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a research note 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.