Bullish indicating open at $55-$60, IPO prices at $37
LONDON—Marlio Charles Mosseri, a significant shareholder in Nuvectis Pharma , Inc. (NASDAQ:NVCT), has made a notable purchase of company stock. According to a recent filing, Mosseri acquired 240,000 shares of Nuvectis Pharma at a price of $5.00 per share, totaling $1.2 million. This transaction increases his holdings to 2,884,121 shares, with ownership conducted through Emerald Hill Ventures SARL SPF, where Mosseri is the beneficial owner. The purchase comes as the stock has experienced a 9.57% decline over the past week, though it maintains a 17% gain year-to-date. According to InvestingPro data, analyst price targets range from $20 to $25, suggesting significant upside potential.
This move comes as Nuvectis Pharma continues to operate in the pharmaceutical preparations sector, with its headquarters located in Fort Lee, New Jersey. The company, currently valued at $151 million, maintains a strong financial position with cash exceeding debt levels and a healthy current ratio of 2.74. Investors will be watching closely to see how this significant purchase impacts the company’s market performance. InvestingPro analysis suggests the stock may be trading above its Fair Value, with additional financial insights available to subscribers.
In other recent news, Nuvectis Pharma has announced the initiation of a public offering of common stock, with Lucid (NASDAQ:LCID) Capital Markets acting as the sole book runner for the transaction. The proceeds from the sale are slated for the further development of Nuvectis’ drug candidates, NXP800 and NXP900, and other corporate purposes.
In a separate development, Nuvectis reported promising interim data from a Phase 1b study of NXP800, a treatment for ARID1a-mutated ovarian cancer. The study revealed antitumor activity, with one patient showing an unconfirmed partial response and six patients achieving stable disease with tumor shrinkage.
Following earlier safety evaluations, an adjusted intermittent dosing schedule was successful in reducing the severity of thrombocytopenia, a severe blood condition. Nuvectis plans to increase dose intensity in future cohorts and expects to share additional clinical data in the second quarter of 2025.
These are recent developments in the company’s ongoing efforts to advance its clinical-stage drugs and improve treatment options for challenging forms of cancer.
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