Nuvectis Pharma (NASDAQ:NVCT) Trading Up 5.8% – Here’s What Happened

Nuvectis Pharma, Inc. (NASDAQ:NVCT)’s stock price was up 5.8% during trading on Wednesday . The stock traded as high as $8.63 and last traded at $8.58. Approximately 58,015 shares changed hands during trading, a decline of 7% from the average daily volume of 62,470 shares. The stock had previously closed at $8.11.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvectis Pharma in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating on shares of Nuvectis Pharma in a report on Wednesday, December 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

Nuvectis Pharma Trading Up 5.8%

The stock has a market cap of $219.73 million, a price-to-earnings ratio of -6.26 and a beta of -0.30. The company has a fifty day simple moving average of $7.33 and a 200-day simple moving average of $6.86.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, November 4th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.20). As a group, analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Insider Activity

In other news, major shareholder Marlio Charles Mosseri bought 72,836 shares of the business’s stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $6.28 per share, with a total value of $457,410.08. Following the purchase, the insider directly owned 3,136,576 shares in the company, valued at $19,697,697.28. This trade represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ron Bentsur bought 5,000 shares of Nuvectis Pharma stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average price of $5.72 per share, with a total value of $28,600.00. Following the acquisition, the chief executive officer directly owned 3,525,924 shares of the company’s stock, valued at approximately $20,168,285.28. This represents a 0.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 136,870 shares of company stock valued at $840,979. 30.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in shares of Nuvectis Pharma in the 1st quarter valued at about $446,000. Jane Street Group LLC acquired a new position in Nuvectis Pharma in the 1st quarter valued at approximately $413,000. Geode Capital Management LLC lifted its position in Nuvectis Pharma by 110.8% in the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock worth $2,132,000 after buying an additional 149,999 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nuvectis Pharma in the 2nd quarter worth approximately $28,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Nuvectis Pharma by 3,398.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after buying an additional 6,084 shares during the period. Hedge funds and other institutional investors own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

Nuvectis Pharma is a clinical-stage biotechnology company focused on the development of novel peptide-based therapeutics using its proprietary Cellporting delivery platform. The company’s core technology is designed to facilitate the transport of therapeutic proteins and peptides across cellular membranes and into target intracellular compartments, including the nucleus. By overcoming a key barrier in biologics delivery, Nuvectis aims to expand the range of treatable diseases with macromolecular drugs that have traditionally been limited by poor cellular uptake.

The Nuvectis pipeline encompasses multiple preclinical and early-stage clinical programs targeting rare genetic and metabolic disorders.