Nuvectis Pharma (NASDAQ:NVCT) Shares Down 5.3% – Should You Sell?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares traded down 5.3% on Monday. The stock traded as low as $21.30 and last traded at $20.76. 20,001 shares changed hands during trading, a decline of 88% from the average daily volume of 172,861 shares. The stock had previously closed at $21.92.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings raised Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. Lucid Cap Mkts upgraded Nuvectis Pharma to a “strong-buy” rating in a research report on Tuesday, September 1st. Loop Capital set a $40.00 price target on Nuvectis Pharma in a research note on Tuesday, September 1st. Cantor Fitzgerald started coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating on the stock. Finally, UBS Group set a $33.00 price objective on Nuvectis Pharma in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nuvectis Pharma has an average rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Price Performance

The stock has a fifty day moving average price of $21.90 and a 200-day moving average price of $15.90. The company has a market cap of $653.86 million, a PE ratio of -15.29 and a beta of -0.24.

Nuvectis Pharma (NASDAQ:NVCT) last issued its earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). On average, equities analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of Nuvectis Pharma in the second quarter worth approximately $31,000. Bank of America Corp DE purchased a new position in Nuvectis Pharma during the second quarter valued at approximately $218,000. Avalon Trust Co purchased a new position in Nuvectis Pharma during the second quarter valued at approximately $257,000. Deutsche Bank AG acquired a new position in Nuvectis Pharma in the 2nd quarter valued at approximately $310,000. Finally, Bank of New York Mellon Corp acquired a new position in Nuvectis Pharma in the 2nd quarter valued at approximately $676,000. Hedge funds and other institutional investors own 96.77% of the company’s stock.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients with cancer and other serious unmet medical needs. The company’s research and development programs are centered on novel small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead product candidate, NXP800, is an orally administered investigational inhibitor of the heat shock factor 1 pathway. It is being evaluated in clinical studies for advanced solid tumors, including ovarian cancer and other tumor types in which this pathway may play a role.