Insider Buying: Nuvectis Pharma, Inc. (NASDAQ:NVCT) Major Shareholder Acquires 240,000 Shares of Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) recently saw major shareholder Marlio Charles Mosseri acquire a significant number of shares in the company. On February 7th, 2023, Mosseri purchased 240,000 shares at an average price of $5.00 per share, totaling $1,200,000. This substantial investment has brought Mosseri's total ownership in Nuvectis Pharma to 2,884,121 shares, with a current value of approximately $14,420,605. This acquisition represents a 9.08% increase in their stake in the company.

The details of this transaction were filed with the Securities and Exchange Commission (SEC) and can be accessed online. It is important to note that major shareholders owning over 10% of a company's shares are required to report their purchases and sales to the SEC.

Marlio Charles Mosseri has also made other notable transactions recently. On December 13th, 2022, he acquired an additional 17,000 shares of Nuvectis Pharma at an average cost of $4.70 per share, which amounted to about $79,900.

Nuvectis Pharma Stock Performance

As of midday trading on Tuesday, February 7th, Nuvectis Pharma's stock was down by $0.04, trading at $6.29. The stock's trading volume reached 54,546 shares, while the average trading volume is noted at 119,724 shares. Currently, Nuvectis Pharma's fifty-day simple moving average is at $5.63, and the two-hundred-day simple moving average is at $6.34. Over the past year, the stock has experienced a low of $4.44 and a high of $12.10. The company's market capitalization stands at $121.52 million, with a price-to-earnings ratio of -5.42 and a beta of 0.22, indicating its volatility compared to the market.

Institutional Activity

Recent movements in the institutional investing space show that several hedge funds have adjusted their positions in Nuvectis Pharma. Oppenheimer & Co. Inc. entered a new position valued at $135,000 in the fourth quarter. Nations Financial Group Inc. IA ADV increased their position in the company by 35.0%, now owning 13,500 shares valued at $73,000 after purchasing an additional 3,500 shares. Forbes J M & Co. LLP expanded their holdings by 21.9% in the fourth quarter, now holding 59,000 shares worth $319,000. Baldwin Wealth Partners LLC MA made a substantial increase of 104.4% in their position, acquiring 355,961 shares valued at $1,926,000 after buying an additional 181,831 shares. Lastly, Geode Capital Management LLC elevated their stake by 49.8%, owning 79,716 shares valued at $501,000 after their recent transactions. Currently, institutional investors own about 96.77% of Nuvectis Pharma's shares.

Company Overview

Nuvectis Pharma, Inc. is a biopharmaceutical company committed to developing precision medicines designed to address serious unmet medical needs in oncology. Their primary product candidate, NXP800, is a novel small molecule undergoing Phase 1b clinical trials aimed at treating patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.

Conclusion

In summary, the recent insider buying activity involving Marlio Charles Mosseri signifies a notable vote of confidence in Nuvectis Pharma's future by its major shareholder. Concurrently, the presence of institutional investors further highlights the interest in this biopharmaceutical company's potential within the market.

Insider, Buying, Stocks