Nuvectis Pharma, Inc. (NASDAQ:NVCT – Get Rating) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 11,200 shares, a drop of 30.0% from the November 30th total of 16,000 shares. Based on an average trading volume of 12,600 shares, the short-interest ratio is currently 0.9 days. Approximately 0.2% of the company's shares are short sold.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Nuvectis Pharma by 216.8% in the third quarter. Tower Research Capital LLC TRC now owns 4,052 shares of the company's stock worth $29,000 after acquiring an additional 2,773 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Nuvectis Pharma during the first quarter valued at approximately $59,000. Virtu Financial LLC purchased a new position in shares of Nuvectis Pharma during the first quarter valued at approximately $84,000. State Street Corp purchased a new position in shares of Nuvectis Pharma during the second quarter valued at approximately $131,000. Finally, Vanguard Group Inc. boosted its position in shares of Nuvectis Pharma by 16.4% during the third quarter. Vanguard Group Inc. now owns 27,061 shares of the company's stock valued at $192,000 after buying an additional 3,804 shares during the period. Hedge funds and other institutional investors own 9.68% of the company's stock.
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Nuvectis Pharma Trading Up 1.1 %
NVCT traded up $0.08 on Friday, hitting $7.50. The company had a trading volume of 37,761 shares, compared to its average volume of 13,022. Nuvectis Pharma has a 12-month low of $3.08 and a 12-month high of $20.92. The business's fifty day simple moving average is $7.23 and its 200 day simple moving average is $8.52.
About Nuvectis Pharma
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Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. It develops NXP800, a novel heat shock factor 1 pathway inhibitor for the treatment of various cancers; and NXP900, a small molecule drug candidate to inhibit the Proto-oncogene c-Src and YES1 kinases.
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