Nuvectis Pharma (NASDAQ:NVCT) Trading Down 2.5% – Should You Sell?

Nuvectis Pharma, Inc. (NASDAQ:NVCT)’s share price traded down 2.5% during trading on Tuesday . The company traded as low as $9.47 and last traded at $9.51. 76,117 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 126,054 shares. The stock had previously closed at $9.75.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Nuvectis Pharma Stock Down 2.5%

The stock has a market cap of $252.30 million, a PE ratio of -7.26 and a beta of -0.07. The stock has a fifty day moving average of $9.17 and a 200-day moving average of $8.38.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Equities research analysts forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvectis Pharma

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Nuvectis Pharma by 3,398.9% in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Nuvectis Pharma during the 2nd quarter worth $53,000. Avalon Trust Co acquired a new stake in shares of Nuvectis Pharma in the 3rd quarter worth $60,000. Bank of America Corp DE boosted its holdings in shares of Nuvectis Pharma by 417.2% in the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after acquiring an additional 6,909 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Nuvectis Pharma by 3,671.4% in the fourth quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock valued at $96,000 after acquiring an additional 12,336 shares in the last quarter. 96.77% of the stock is owned by institutional investors and hedge funds.

About Nuvectis Pharma

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.