Occam Crest Management LP Raises Stock Position in Nuvectis Pharma, Inc. $NVCT

Occam Crest Management LP grew its holdings in shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) by 31.0% during the fourth quarter, Holdings Channel reports. The firm owned 380,000 shares of the company’s stock after purchasing an additional 90,000 shares during the quarter. Nuvectis Pharma comprises about 2.0% of Occam Crest Management LP’s holdings, making the stock its 20th largest position. Occam Crest Management LP’s holdings in Nuvectis Pharma were worth $2,869,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Nuvectis Pharma by 31.3% during the fourth quarter. Barclays PLC now owns 24,185 shares of the company’s stock worth $183,000 after buying an additional 5,760 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Nuvectis Pharma by 15.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock worth $332,000 after buying an additional 6,040 shares during the period. State Street Corp increased its stake in shares of Nuvectis Pharma by 13.1% during the fourth quarter. State Street Corp now owns 154,666 shares of the company’s stock worth $1,168,000 after buying an additional 17,950 shares during the period. Wells Fargo & Company MN increased its stake in shares of Nuvectis Pharma by 114.1% during the fourth quarter. Wells Fargo & Company MN now owns 16,929 shares of the company’s stock worth $128,000 after buying an additional 9,022 shares during the period. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Nuvectis Pharma during the fourth quarter worth approximately $110,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

Nuvectis Pharma Stock Up 4.1%

Shares of Nuvectis Pharma stock opened at $11.15 on Tuesday. The firm has a market capitalization of $295.81 million, a P/E ratio of -8.51 and a beta of -0.07. Nuvectis Pharma, Inc. has a 52 week low of $5.55 and a 52 week high of $13.34. The firm’s 50 day moving average is $9.61 and its two-hundred day moving average is $8.66.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVCT shares. HC Wainwright upped their target price on shares of Nuvectis Pharma from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.00.

Nuvectis Pharma 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.