Nuvectis Pharma (NASDAQ:NVCT) Announces Quarterly Earnings Results

Nuvectis Pharma (NASDAQ:NVCT) released its quarterly earnings data on Wednesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.05), FiscalAI reports.

Nuvectis Pharma Price Performance

Shares of NVCT traded up $0.39 during trading hours on Friday, hitting $9.19. The stock had a trading volume of 28,282 shares, compared to its average volume of 72,205. The stock has a fifty day moving average price of $8.14 and a 200 day moving average price of $6.94. The firm has a market capitalization of $235.25 million, a PE ratio of -6.98 and a beta of -0.29. Nuvectis Pharma has a 12 month low of $5.55 and a 12 month high of $11.52.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvectis Pharma in a research note on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating on shares of Nuvectis Pharma in a report on Wednesday, December 3rd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.33.

Hedge Funds Weigh In On Nuvectis Pharma

A number of hedge funds have recently made changes to their positions in NVCT. Wells Fargo & Company MN lifted its holdings in shares of Nuvectis Pharma by 114.1% in the 4th quarter. Wells Fargo & Company MN now owns 16,929 shares of the company’s stock valued at $128,000 after acquiring an additional 9,022 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Nuvectis Pharma in the fourth quarter valued at $110,000. Deutsche Bank AG grew its position in Nuvectis Pharma by 3,671.4% in the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock valued at $96,000 after acquiring an additional 12,336 shares during the last quarter. Geode Capital Management LLC increased its stake in Nuvectis Pharma by 11.8% in the fourth quarter. Geode Capital Management LLC now owns 364,024 shares of the company’s stock worth $2,749,000 after purchasing an additional 38,291 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Nuvectis Pharma by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 698,708 shares of the company’s stock worth $4,206,000 after acquiring an additional 31,903 shares in 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.