Nuvectis Pharma (NASDAQ:NVCT) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Nuvectis Pharma (NASDAQ:NVCT) announced its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04, FiscalAI reports.

Nuvectis Pharma Stock Up 3.2%

NVCT traded up $0.32 during trading on Thursday, hitting $10.32. The company’s stock had a trading volume of 96,630 shares, compared to its average volume of 63,646. The firm’s 50 day moving average price is $8.53 and its two-hundred day moving average price is $7.81. Nuvectis Pharma has a 12 month low of $5.55 and a 12 month high of $11.15. The stock has a market capitalization of $285.53 million, a price-to-earnings ratio of -7.88 and a beta of -0.11.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nuvectis Pharma in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Nuvectis Pharma has a consensus rating of “Hold” and an average target price of $10.00.

Hedge Funds Weigh In On Nuvectis Pharma

Several institutional investors have recently bought and sold shares of NVCT. Goldman Sachs Group Inc. bought a new position in Nuvectis Pharma in the 1st quarter valued at $446,000. Jane Street Group LLC bought a new stake in shares of Nuvectis Pharma during the first quarter worth $413,000. Geode Capital Management LLC raised its position 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 worth $2,132,000 after acquiring an additional 149,999 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Nuvectis Pharma by 3,398.9% during the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after acquiring an additional 6,084 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Nuvectis Pharma during the second quarter worth $97,000. Institutional investors 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.