Nuvectis Pharma (NASDAQ:NVCT) Sets New 1-Year High – Should You Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.28 and last traded at $28.53, with a volume of 495447 shares traded. The stock had previously closed at $27.19.

Analyst Ratings Changes

NVCT has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. Finally, HC Wainwright raised their target price on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.00.

Nuvectis Pharma Stock Up 4.9%

The company has a fifty day simple moving average of $11.86 and a 200-day simple moving average of $9.58. The firm has a market cap of $756.90 million, a P/E ratio of -21.78 and a beta of -0.07.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, May 5th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. As a group, research analysts forecast that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Hedge Funds Weigh In On Nuvectis Pharma

Several hedge funds have recently modified their holdings of the stock. Iridian Asset Management LLC CT lifted its stake in Nuvectis Pharma by 44.5% in the 4th quarter. Iridian Asset Management LLC CT now owns 586,320 shares of the company’s stock worth $4,427,000 after purchasing an additional 180,699 shares in the last quarter. Occam Crest Management LP grew its position in shares of Nuvectis Pharma by 31.0% during the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after purchasing an additional 90,000 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Nuvectis Pharma by 6.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock worth $555,000 after purchasing an additional 4,500 shares during the last quarter. Baldwin Wealth Partners LLC MA lifted its position in shares of Nuvectis Pharma by 11.2% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 389,625 shares of the company’s stock worth $2,942,000 after buying an additional 39,164 shares in the last quarter. Finally, Barclays PLC boosted its stake in Nuvectis Pharma by 31.3% during the fourth quarter. Barclays PLC now owns 24,185 shares of the company’s stock valued at $183,000 after buying an additional 5,760 shares during the last quarter. 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.