Nuvectis Pharma (NASDAQ:NVCT) Shares Down 7.7% – Here’s What Happened

Nuvectis Pharma, Inc. (NASDAQ:NVCT)’s stock price fell 7.7% on Friday . The company traded as low as $25.00 and last traded at $25.7120. 90,266 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 96,170 shares. The stock had previously closed at $27.87.

Analyst Ratings Changes

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

Nuvectis Pharma Stock Down 10.1%

The stock’s 50-day moving average is $11.09 and its 200-day moving average is $9.28. The firm has a market cap of $664.68 million, a P/E ratio of -19.44 and a beta of -0.07.

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

Institutional Trading of Nuvectis Pharma

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Nuvectis Pharma by 3,398.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after purchasing an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Nuvectis Pharma in the second quarter worth $53,000. Bank of America Corp DE boosted its stake in Nuvectis Pharma by 417.2% during the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock worth $64,000 after buying an additional 6,909 shares in the last quarter. Deutsche Bank AG increased its holdings in Nuvectis Pharma by 3,671.4% in the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock valued at $96,000 after buying an additional 12,336 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Nuvectis Pharma in the 2nd quarter valued at $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.