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

Nuvectis Pharma, Inc. (NASDAQ:NVCT) major shareholder Marlio Charles Mosseri bought 50,000 shares of the firm’s stock in a transaction that occurred 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 acquisition, the insider directly owned 3,186,576 shares in the company, valued at $58,378,072.32. The trade was a 1.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Nuvectis Pharma Price Performance

Nuvectis Pharma stock traded up $0.77 during mid-day trading on Wednesday, hitting $19.16. 753,700 shares of the company’s stock traded hands, compared to its average volume of 139,201. The firm has a 50 day simple moving average of $12.05 and a two-hundred day simple moving average of $9.66. Nuvectis Pharma, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $29.27. The stock has a market cap of $508.21 million, a price-to-earnings ratio of -14.57 and a beta of -0.07.

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

Wall Street Analysts Forecast Growth

NVCT has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a 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 report on Monday, June 22nd. Finally, Wall Street Zen raised Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nuvectis Pharma currently has a consensus rating of “Hold” and an average target price of $39.00.

Hedge Funds Weigh In On Nuvectis Pharma

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted 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 valued at $47,000 after purchasing an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Nuvectis Pharma in the second quarter valued at approximately $53,000. Bank of America Corp DE grew its position 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 stake in 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 during the period. Finally, New York State Common Retirement Fund acquired a new position in Nuvectis Pharma in the 2nd quarter valued at $97,000. 96.77% of the stock is owned by institutional investors.

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.