Nuvectis Pharma (NASDAQ:NVCT) Stock Price Up 4.2% – Here’s Why

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares were up 4.2% during mid-day trading on Tuesday . The stock traded as high as $23.62 and last traded at $23.68. Approximately 13,325 shares changed hands during trading, a decline of 92% from the average daily volume of 168,527 shares. The stock had previously closed at $22.73.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NVCT shares. HC Wainwright increased their price target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. 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 upgraded Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Roth Capital increased their price objective on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Cantor Fitzgerald initiated coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating on the stock. Three 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, Nuvectis Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Nuvectis Pharma Price Performance

The firm has a 50-day moving average of $20.86 and a 200 day moving average of $13.44. The stock has a market capitalization of $753.66 million, a price-to-earnings ratio of -17.63 and a beta of -0.26.

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

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVCT. BlackRock Inc. bought a new stake in Nuvectis Pharma during the 2nd quarter worth $18,414,000. Alyeska Investment Group L.P. acquired a new stake in Nuvectis Pharma in the second quarter worth $5,057,000. Geode Capital Management LLC increased its holdings in shares of Nuvectis Pharma by 110.8% during the second quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock valued at $2,132,000 after acquiring an additional 149,999 shares in the last quarter. Occam Crest Management LP increased its position in shares of Nuvectis Pharma by 31.0% during the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Nuvectis Pharma during the first quarter worth $446,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

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.