Nuvectis Pharma (NASDAQ:NVCT) Trading 1.1% Higher – Still a Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shot up 1.1% during mid-day trading on Wednesday . The company traded as high as $19.75 and last traded at $19.29. Approximately 157,318 shares were traded during trading, a decline of 74% from the average session volume of 602,680 shares. The stock had previously closed at $19.08.

Wall Street Analyst Weigh In

NVCT has been the topic of several analyst reports. HC Wainwright increased 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. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. UBS Group set a $33.00 price objective on Nuvectis Pharma in a research note on Monday, July 6th. Finally, Roth Capital raised their price objective on Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nuvectis Pharma currently has an average rating of “Hold” and a consensus target price of $35.00.

Nuvectis Pharma Stock Performance

The company has a 50-day moving average of $15.06 and a 200-day moving average of $10.93. The firm has a market capitalization of $511.76 million, a price-to-earnings ratio of -14.73 and a beta of -0.24.

Nuvectis Pharma (NASDAQ:NVCT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. As a group, analysts anticipate that Nuvectis Pharma, Inc. will post -0.96 EPS for the current fiscal year.

Insider Activity at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $18.32 per share, with a total value of $916,000.00. Following the completion of the transaction, the insider directly owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. The trade was a 1.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ron Bentsur acquired 12,500 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $20.00 per share, with a total value of $250,000.00. Following the transaction, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at $73,768,480. This represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 28.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Nuvectis Pharma during the second quarter worth about $53,000. Bank of America Corp DE boosted its position in shares of Nuvectis Pharma by 417.2% during the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock worth $64,000 after buying an additional 6,909 shares during the period. Deutsche Bank AG boosted its position in shares of Nuvectis Pharma by 3,671.4% during the fourth quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock worth $96,000 after buying an additional 12,336 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of Nuvectis Pharma during the second quarter worth about $97,000. 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.