Nuvectis Pharma (NASDAQ:NVCT) Major Shareholder Marlio Charles Mosseri Buys 50,000 Shares

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

Nuvectis Pharma Stock Performance

Shares of NVCT opened at $19.52 on Thursday. Nuvectis Pharma, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $29.27. The firm has a market cap of $517.87 million, a price-to-earnings ratio of -14.90 and a beta of -0.25. The firm has a 50 day moving average price of $12.28 and a 200-day moving average price of $9.74.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. As a group, equities research analysts predict that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, HC Wainwright lifted their price objective on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Nuvectis Pharma presently has an average rating of “Hold” and a consensus target price of $39.00.

Institutional Investors Weigh In On Nuvectis Pharma

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position 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 acquiring an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Nuvectis Pharma during the 2nd quarter valued at $53,000. Bank of America Corp DE increased its holdings 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 worth $64,000 after purchasing an additional 6,909 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Nuvectis Pharma by 3,671.4% in the fourth quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock worth $96,000 after purchasing an additional 12,336 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Nuvectis Pharma in the second quarter worth $97,000. Hedge funds and other institutional investors own 96.77% of the company’s stock.

About Nuvectis Pharma

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.