Nuvectis Pharma (NASDAQ:NVCT) Trading 6.6% Higher – Time to Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) was up 6.6% on Friday . The stock traded as high as $23.87 and last traded at $23.9650. 97,131 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 168,102 shares. The stock had previously closed at $22.49.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group set a $33.00 price target on Nuvectis Pharma in a research report on Monday, July 6th. Roth Capital raised their price objective on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a report on Monday, July 6th. Weiss Ratings cut shares of Nuvectis Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. Cantor Fitzgerald initiated coverage on shares of Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating for the company. Finally, HC Wainwright upped 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, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Nuvectis Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

Nuvectis Pharma Trading Up 6.7%

The firm’s fifty day moving average is $21.08 and its 200-day moving average is $14.36. The stock has a market capitalization of $783.03 million, a PE ratio of -18.31 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). As a group, equities analysts predict that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Marlio Charles Mosseri purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $18.32 per share, for a total transaction of $916,000.00. Following the completion of the purchase, the insider directly owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. This trade represents a 1.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ron Bentsur purchased 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, with a total value 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 approximately $73,768,480. This trade 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.

Hedge Funds Weigh In On Nuvectis Pharma

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Nuvectis Pharma during the second quarter worth about $18,414,000. Vanguard Group Inc. grew its holdings in shares of Nuvectis Pharma by 4.8% in the third quarter. Vanguard Group Inc. now owns 698,708 shares of the company’s stock valued at $4,206,000 after purchasing an additional 31,903 shares in the last quarter. Occam Crest Management LP grew its holdings in shares of Nuvectis Pharma by 31.0% in the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after purchasing an additional 90,000 shares in the last quarter. Geode Capital Management LLC increased its stake in Nuvectis Pharma by 11.8% during the 4th quarter. Geode Capital Management LLC now owns 364,024 shares of the company’s stock worth $2,749,000 after buying an additional 38,291 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in Nuvectis Pharma during the 2nd quarter worth approximately $5,057,000. 96.77% of the stock is owned by institutional investors and hedge funds.

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.