Insider Buying: Nuvectis Pharma (NASDAQ:NVCT) CEO Buys $250,000.00 in Stock

Nuvectis Pharma, Inc. (NASDAQ:NVCT) CEO Ron Bentsur acquired 12,500 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief executive officer owned 3,688,424 shares in the company, valued at $73,768,480. This trade represents a 0.34% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nuvectis Pharma Price Performance

Shares of NASDAQ:NVCT traded up $0.77 on Wednesday, hitting $19.16. The company’s stock had a trading volume of 753,700 shares, compared to its average volume of 139,201. The company has a 50-day simple moving average of $12.05 and a 200 day simple moving average of $9.66. The company has a market capitalization of $508.21 million, a PE ratio of -14.57 and a beta of -0.07. Nuvectis Pharma, Inc. has a 1 year low of $5.55 and a 1 year high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT) last issued its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. On average, equities research analysts expect that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Nuvectis Pharma

Several large investors have recently added to or reduced their stakes in NVCT. Iridian Asset Management LLC CT increased its position in Nuvectis Pharma by 44.5% during the 4th quarter. Iridian Asset Management LLC CT now owns 586,320 shares of the company’s stock valued at $4,427,000 after purchasing an additional 180,699 shares during the period. Geode Capital Management LLC increased 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 valued at $2,132,000 after buying an additional 149,999 shares during the period. Occam Crest Management LP raised its stake in Nuvectis Pharma by 31.0% in the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after buying an additional 90,000 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Nuvectis Pharma in the first quarter worth about $446,000. Finally, Jane Street Group LLC purchased a new stake in Nuvectis Pharma in the first quarter worth about $413,000. Institutional investors own 96.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVCT. Wall Street Zen raised Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a report on Friday, June 5th. Finally, HC Wainwright upped their price target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nuvectis Pharma presently has an average rating of “Hold” and an average target price of $39.00.

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.