Nuvectis Pharma (NASDAQ:NVCT) Upgraded at Lucid Cap Mkts

Lucid Cap Mkts upgraded shares of Nuvectis Pharma (NASDAQ:NVCT) to a strong-buy rating in a report issued on Tuesday morning,Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Loop Capital set a $40.00 target price on shares of Nuvectis Pharma in a research note on Tuesday. Weiss Ratings raised Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. Roth Capital upped their price target on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a report on Monday, July 6th. HC Wainwright raised their price objective on Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Cantor Fitzgerald started coverage on Nuvectis Pharma in a research report on Monday, August 24th. They set an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nuvectis Pharma has an average rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Trading Up 1.9%

NVCT opened at $24.37 on Tuesday. The business has a 50 day moving average of $20.89 and a 200-day moving average of $13.76. The stock has a market capitalization of $795.44 million, a price-to-earnings ratio of -18.60 and a beta of -0.26. Nuvectis Pharma has a 1-year low of $5.55 and a 1-year high of $29.27.

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

Insider Activity

In other news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $18.32 per share, with a total value of $916,000.00. Following the completion of the acquisition, the insider 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ron Bentsur bought 12,500 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $20.00 per share, with a total value of $250,000.00. Following the purchase, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at $73,768,480. The trade was a 0.34% increase in their position. The SEC filing for this purchase provides additional information. 28.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Several institutional investors have recently bought and sold shares of NVCT. Legal & General Group Plc acquired a new position in Nuvectis Pharma in the second quarter worth $31,000. California State Teachers Retirement System increased its stake in shares of Nuvectis Pharma by 376.8% in the second quarter. California State Teachers Retirement System now owns 3,991 shares of the company’s stock valued at $73,000 after buying an additional 3,154 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Nuvectis Pharma in the second quarter valued at about $53,000. Finally, Bank of America Corp DE raised its holdings in shares of Nuvectis Pharma by 417.2% in the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after buying an additional 6,909 shares during the last quarter. Institutional investors own 96.77% of the company’s stock.

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.