Nuvectis Pharma (NASDAQ:NVCT) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Nuvectis Pharma (NASDAQ:NVCT) announced its quarterly earnings results on Tuesday. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.04), FiscalAI reports.

Nuvectis Pharma Price Performance

Shares of NASDAQ:NVCT traded down $0.12 during mid-day trading on Thursday, reaching $19.14. 123,781 shares of the company were exchanged, compared to its average volume of 165,109. Nuvectis Pharma has a 1 year low of $5.55 and a 1 year high of $29.27. The firm’s 50-day simple moving average is $17.02 and its 200 day simple moving average is $11.78. The firm has a market cap of $507.92 million, a price-to-earnings ratio of -14.56 and a beta of -0.26.

Insider Buying and Selling

In other news, major shareholder Marlio Charles Mosseri purchased 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $18.32 per share, for a total transaction of $916,000.00. Following the completion of the transaction, the insider directly owned 3,186,576 shares in the company, valued at approximately $58,378,072.32. This represents a 1.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ron Bentsur bought 12,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $20.00 per share, with a total value of $250,000.00. Following the completion of the transaction, the chief executive officer owned 3,688,424 shares in the company, valued at $73,768,480. This represents a 0.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 28.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvectis Pharma

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new position in shares of Nuvectis Pharma in the 1st quarter valued at about $446,000. Jane Street Group LLC acquired a new stake in Nuvectis Pharma in the first quarter valued at approximately $413,000. Geode Capital Management LLC grew its holdings in Nuvectis Pharma by 110.8% during the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock worth $2,132,000 after acquiring an additional 149,999 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Nuvectis Pharma during the 2nd quarter worth $97,000. Hedge funds and other institutional investors own 96.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVCT shares. HC Wainwright boosted their target price on shares of 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. UBS Group set a $33.00 target price on Nuvectis Pharma in a research note on Monday, July 6th. Finally, Roth Capital upped their price target on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Nuvectis Pharma currently has an average rating of “Hold” and an average target price of $35.00.

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.