Nuvectis Pharma (NASDAQ:NVCT) Releases Earnings Results, Misses Estimates By $0.04 EPS

Nuvectis Pharma (NASDAQ:NVCT) announced its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04), FiscalAI reports.

Nuvectis Pharma Stock Up 0.5%

NASDAQ:NVCT traded up $0.09 on Wednesday, reaching $20.19. 71,756 shares of the company’s stock were exchanged, compared to its average volume of 164,445. The firm has a market capitalization of $535.75 million, a price-to-earnings ratio of -15.37 and a beta of -0.26. Nuvectis Pharma has a 52-week low of $5.55 and a 52-week high of $29.27. The business has a fifty day moving average of $16.84 and a 200-day moving average of $11.70.

Analyst Ratings Changes

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

Insider Activity at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $18.32 per share, with a total value of $916,000.00. Following the completion of the acquisition, the insider directly owned 3,186,576 shares of the company’s stock, valued at $58,378,072.32. This trade represents a 1.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ron Bentsur bought 12,500 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were purchased 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 of the company’s stock, valued at approximately $73,768,480. This represents a 0.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 28.55% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake 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 valued at $47,000 after buying an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Nuvectis Pharma in the second quarter valued at about $53,000. Bank of America Corp DE lifted its position in shares of Nuvectis Pharma by 417.2% during the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after acquiring an additional 6,909 shares during the period. Deutsche Bank AG boosted its stake in shares of Nuvectis Pharma by 3,671.4% during the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock worth $96,000 after acquiring an additional 12,336 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Nuvectis Pharma during the 2nd quarter worth approximately $97,000. Hedge funds and other 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.