Nuvectis Pharma (NASDAQ:NVCT) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Nuvectis Pharma (NASDAQ:NVCT) issued its earnings results on Tuesday. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05), FiscalAI reports.

Nuvectis Pharma Stock Down 5.1%

NASDAQ NVCT traded down $1.09 during midday trading on Tuesday, hitting $20.50. The company had a trading volume of 311,748 shares, compared to its average volume of 162,898. The firm has a fifty day simple moving average of $16.64 and a two-hundred day simple moving average of $11.62. Nuvectis Pharma has a fifty-two week low of $5.55 and a fifty-two week high of $29.27. The stock has a market cap of $544.00 million, a price-to-earnings ratio of -15.65 and a beta of -0.26.

Insider Buying and Selling at Nuvectis Pharma

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

Institutional Investors Weigh In On Nuvectis Pharma

A number of institutional investors have recently made changes to their positions in NVCT. JPMorgan Chase & Co. raised its position in shares of Nuvectis Pharma by 3,398.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after acquiring an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Nuvectis Pharma during the 2nd quarter worth about $53,000. Bank of America Corp DE raised its position in Nuvectis Pharma by 417.2% in the 2nd 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. Deutsche Bank AG raised its holdings in shares of Nuvectis Pharma by 3,671.4% in the fourth quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock valued at $96,000 after purchasing an additional 12,336 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Nuvectis Pharma during the 2nd quarter worth about $97,000. 96.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NVCT shares. Roth Capital upped their target price 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 target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group set a $33.00 price objective on shares of Nuvectis Pharma in a research note on Monday, July 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.00.

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.