Nuvectis Pharma (NASDAQ:NVCT) Shares Gap Down After Earnings Miss

Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $21.60, but opened at $19.26. Nuvectis Pharma shares last traded at $20.0850, with a volume of 234,790 shares trading hands.

The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05).

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Roth Capital raised their price objective 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 reaffirmed a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. HC Wainwright increased their price target on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Wall Street Zen raised shares of 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 objective on shares of Nuvectis Pharma in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.00.

Insider Activity at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $18.32 per share, with a total value of $916,000.00. Following the acquisition, the insider 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ron Bentsur acquired 12,500 shares of the 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 completion of the transaction, the chief executive officer owned 3,688,424 shares of the company’s stock, valued at $73,768,480. This trade represents a 0.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 28.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Nuvectis Pharma by 10.2% during the first quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock worth $115,000 after buying an additional 1,377 shares in the last quarter. Occam Crest Management LP raised its stake in shares of Nuvectis Pharma by 31.0% in the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after buying an additional 90,000 shares in the last quarter. Barclays PLC raised its stake in shares of Nuvectis Pharma by 31.3% in the 4th quarter. Barclays PLC now owns 24,185 shares of the company’s stock valued at $183,000 after buying an additional 5,760 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nuvectis Pharma by 15.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock worth $332,000 after acquiring an additional 6,040 shares during the period. Finally, State Street Corp lifted its holdings in shares of Nuvectis Pharma by 13.1% during the 4th quarter. State Street Corp now owns 154,666 shares of the company’s stock worth $1,168,000 after acquiring an additional 17,950 shares during the period. 96.77% of the stock is owned by institutional investors.

Nuvectis Pharma Stock Performance

The firm’s 50-day moving average price is $16.64 and its two-hundred day moving average price is $11.62. The firm has a market capitalization of $536.09 million, a price-to-earnings ratio of -15.43 and a beta of -0.26.

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.