Nuvectis Pharma (NASDAQ:NVCT) Stock Price Up 6.2% – Here’s Why

Nuvectis Pharma, Inc. (NASDAQ:NVCT)’s share price shot up 6.2% on Tuesday . The stock traded as high as $19.68 and last traded at $20.2650. Approximately 27,455 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 163,211 shares. The stock had previously closed at $19.08.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVCT shares. HC Wainwright raised their price objective on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Roth Capital boosted their target price on 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 cut Nuvectis Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, UBS Group set a $33.00 price target on Nuvectis Pharma in a research note on Monday, July 6th. 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, the company currently has an average rating of “Hold” and a consensus price target of $35.00.

Nuvectis Pharma Trading Up 11.6%

The company’s 50 day moving average is $19.02 and its 200-day moving average is $12.56. The company has a market capitalization of $760.09 million, a P/E ratio of -17.81 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). Analysts predict that Nuvectis Pharma, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvectis Pharma news, CEO Ron Bentsur purchased 12,500 shares of Nuvectis Pharma stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $20.00 per share, with a total value of $250,000.00. Following the transaction, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $18.32 per share, for a total transaction 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 28.55% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds have recently modified their holdings of NVCT. Goldman Sachs Group Inc. purchased a new position in Nuvectis Pharma during the first quarter valued at $446,000. Jane Street Group LLC purchased a new position in shares of Nuvectis Pharma during the 1st quarter valued at about $413,000. Geode Capital Management LLC grew its stake in shares of Nuvectis Pharma by 110.8% during the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock valued at $2,132,000 after acquiring an additional 149,999 shares during the period. JPMorgan Chase & Co. increased its holdings in Nuvectis Pharma by 3,398.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after acquiring an additional 6,084 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Nuvectis Pharma during the 2nd quarter worth approximately $97,000. 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.