Stonepine Capital Management LLC Takes Position in Nuvectis Pharma, Inc. $NVCT

Stonepine Capital Management LLC acquired a new position in shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $735,600,000.

A number of other hedge funds have also modified their holdings of NVCT. Legal & General Group Plc acquired a new stake in shares of Nuvectis Pharma during the second quarter worth $31,000. JPMorgan Chase & Co. lifted its holdings in shares of Nuvectis Pharma by 3,398.9% during the second 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Nuvectis Pharma in the 2nd quarter valued at $53,000. Bank of America Corp DE boosted its position in shares of Nuvectis Pharma by 417.2% in the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after purchasing an additional 6,909 shares during the period. Finally, Deutsche Bank AG increased its stake in Nuvectis Pharma by 3,671.4% in the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock worth $96,000 after purchasing an additional 12,336 shares in the last quarter. 96.77% of the stock is currently owned by institutional investors and hedge funds.

Nuvectis Pharma Trading Up 0.8%

Shares of Nuvectis Pharma stock opened at $25.19 on Friday. Nuvectis Pharma, Inc. has a 1 year low of $5.55 and a 1 year high of $29.27. The company has a market cap of $822.30 million, a P/E ratio of -19.23 and a beta of -0.26. The stock has a 50-day moving average price of $20.54 and a 200 day moving average price of $13.24.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.04). On average, equities analysts forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Nuvectis Pharma

In related news, CEO Ron Bentsur bought 12,500 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the transaction, the chief executive officer directly owned 3,688,424 shares in the company, valued at $73,768,480. This represents a 0.34% 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 this link. Also, major shareholder Marlio Charles Mosseri bought 50,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $18.32 per share, with a total value of $916,000.00. Following the purchase, the insider directly owned 3,186,576 shares in the company, valued at approximately $58,378,072.32. This trade represents a 1.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 28.55% of the company’s stock.

Analyst Upgrades and Downgrades

NVCT has been the topic of several recent analyst reports. Cantor Fitzgerald assumed coverage on Nuvectis Pharma in a report on Monday. They set an “overweight” rating on the stock. Roth Capital lifted their target price on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. HC Wainwright boosted their price target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, UBS Group set a $33.00 price target on shares of Nuvectis Pharma in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.