Nuvectis Pharma (NASDAQ:NVCT) Trading 4.2% Higher – Should You Buy?

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Loop Capital set a $40.00 price target on Nuvectis Pharma in a research report on Tuesday. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Capital raised their price target on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Weiss Ratings raised Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. Finally, HC Wainwright boosted 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. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Nuvectis Pharma Stock Up 3.7%

The stock’s 50 day moving average price is $20.96 and its two-hundred day moving average price is $13.65. The firm has a market capitalization of $780.84 million, a price-to-earnings ratio of -18.26 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last issued its earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). On average, equities analysts expect that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of $18.32 per share, for a total transaction of $916,000.00. Following the completion of the acquisition, the insider 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ron Bentsur acquired 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the transaction, the chief executive officer 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 disclosure for this purchase is available in the SEC filing. Corporate insiders own 28.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in Nuvectis Pharma by 10.2% in the first quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock worth $115,000 after purchasing an additional 1,377 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Nuvectis Pharma during the 2nd quarter valued at about $31,000. California State Teachers Retirement System raised its position 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 purchasing an additional 3,154 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Nuvectis Pharma by 6.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock worth $555,000 after buying an additional 4,500 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Nuvectis Pharma by 31.3% during the 4th quarter. Barclays PLC now owns 24,185 shares of the company’s stock worth $183,000 after buying an additional 5,760 shares during the period. 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.