Nuvectis Pharma (NASDAQ:NVCT) Shares Up 1.1% – Here’s Why

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

Wall Street Analyst Weigh In

Several research firms have issued reports on NVCT. UBS Group set a $33.00 price target on Nuvectis Pharma in a report on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. Roth Capital lifted their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 6th. HC Wainwright boosted their target price on Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen raised Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nuvectis Pharma currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Nuvectis Pharma Stock Down 4.2%

The firm’s 50-day moving average price is $15.22 and its two-hundred day moving average price is $11.01. The firm has a market capitalization of $512.29 million, a PE ratio of -14.74 and a beta of -0.24.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. Equities research analysts forecast that Nuvectis Pharma, Inc. will post -0.96 EPS for the current year.

Insider Buying and Selling at Nuvectis Pharma

In other Nuvectis Pharma news, CEO Ron Bentsur bought 12,500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the acquisition, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at approximately $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Marlio Charles Mosseri purchased 50,000 shares of Nuvectis Pharma stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost 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 $58,378,072.32. This represents a 1.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 28.55% of the stock is currently owned by insiders.

Institutional Trading of Nuvectis Pharma

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new position in shares of Nuvectis Pharma during the 1st quarter valued at $446,000. Jane Street Group LLC bought a new stake in Nuvectis Pharma in the first quarter worth $413,000. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 149,999 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 6,084 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Nuvectis Pharma during 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.