Nuvectis Pharma (NASDAQ:NVCT) Trading Down 1.7% – Here’s Why

Nuvectis Pharma, Inc. (NASDAQ:NVCT) fell 1.7% during trading on Wednesday . The company traded as low as $7.56 and last traded at $7.60. 33,405 shares changed hands during trading, a decline of 48% from the average session volume of 64,450 shares. The stock had previously closed at $7.73.

Analyst Upgrades and Downgrades

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

Nuvectis Pharma Stock Performance

The firm has a 50 day moving average of $8.56 and a 200-day moving average of $7.41. The company has a market cap of $200.26 million, a P/E ratio of -5.73 and a beta of -0.21.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.05). Equities analysts predict that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its holdings in Nuvectis Pharma by 6.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock valued at $555,000 after acquiring an additional 4,500 shares during the last quarter. Barclays PLC grew its position in shares of Nuvectis Pharma by 31.3% during the fourth quarter. Barclays PLC now owns 24,185 shares of the company’s stock valued at $183,000 after purchasing an additional 5,760 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Nuvectis Pharma by 15.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock worth $332,000 after purchasing an additional 6,040 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $47,000 after purchasing an additional 6,084 shares during the last quarter. Finally, Bank of America Corp DE lifted its position 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 worth $64,000 after buying an additional 6,909 shares in the last quarter. 96.77% of the stock is owned by hedge funds and other institutional investors.

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.