Nuvectis Pharma Target of Unusually Large Options Trading (NASDAQ:NVCT)

Nuvectis Pharma, Inc. (NASDAQ:NVCT) was the target of some unusual options trading activity on Tuesday. Stock investors bought 3,044 call options on the stock. This is an increase of approximately 817% compared to the average daily volume of 332 call options.

Insider Buying and Selling

In related news, CEO Ron Bentsur bought 12,500 shares of the business’s stock in a transaction on 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 directly owned 3,688,424 shares of the company’s stock, valued at approximately $73,768,480. This represents a 0.34% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Marlio Charles Mosseri bought 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 purchase, the insider owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. The trade was a 1.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 28.55% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new position in shares of Nuvectis Pharma in the 1st quarter valued at about $446,000. Jane Street Group LLC bought a new stake in Nuvectis Pharma in the first quarter worth approximately $413,000. Geode Capital Management LLC increased its holdings in Nuvectis Pharma by 110.8% in the second quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock worth $2,132,000 after purchasing an additional 149,999 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Nuvectis Pharma by 3,398.9% in the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after buying an additional 6,084 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in Nuvectis Pharma in the second quarter valued at approximately $97,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Stock Down 5.3%

Shares of NASDAQ NVCT traded down $1.14 during trading on Tuesday, reaching $20.46. The company had a trading volume of 286,078 shares, compared to its average volume of 162,656. The stock has a market cap of $542.91 million, a P/E ratio of -15.51 and a beta of -0.26. The company’s fifty day moving average price is $16.64 and its 200-day moving average price is $11.62. Nuvectis Pharma has a 12 month low of $5.55 and a 12 month high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, equities analysts predict that Nuvectis Pharma will post -0.96 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on NVCT. Roth Capital increased their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, July 6th. UBS Group set a $33.00 price objective on Nuvectis Pharma in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a report on Friday, June 5th. Finally, HC Wainwright raised their price target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently 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.