Nuvectis Pharma (NASDAQ:NVCT) Major Shareholder Buys $916,000.00 in Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) major shareholder Marlio Charles Mosseri purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $18.32 per share, for a total transaction of $916,000.00. Following the completion of the acquisition, the insider directly owned 3,186,576 shares in the company, valued at $58,378,072.32. The trade was a 1.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Nuvectis Pharma Stock Performance

NASDAQ NVCT opened at $19.57 on Friday. Nuvectis Pharma, Inc. has a 52-week low of $5.55 and a 52-week high of $29.27. The company has a 50-day simple moving average of $12.71 and a 200 day simple moving average of $9.89. The company has a market capitalization of $519.19 million, a PE ratio of -14.94 and a beta of -0.24.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly 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, analysts forecast that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVCT. HC Wainwright upped their price target on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a report on Friday, June 5th. Finally, Wall Street Zen upgraded Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Nuvectis Pharma has a consensus rating of “Hold” and a consensus price target of $39.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. purchased a new position in Nuvectis Pharma in the 1st quarter valued at approximately $446,000. Jane Street Group LLC purchased a new stake in shares of Nuvectis Pharma during the first quarter worth $413,000. Geode Capital Management LLC boosted its holdings in shares of Nuvectis Pharma by 110.8% in the second quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock worth $2,132,000 after acquiring an additional 149,999 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Nuvectis Pharma by 3,398.9% in the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after acquiring an additional 6,084 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of Nuvectis Pharma in the second quarter worth $97,000. 96.77% of the stock is owned by institutional investors.

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.