Nuvectis Pharma (NASDAQ:NVCT) Shares Up 6.2% – Should You Buy?

Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) shot up 6.2% during trading on Tuesday . The company traded as high as $19.68 and last traded at $20.2650. 27,455 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 163,211 shares. The stock had previously closed at $19.08.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVCT. Weiss Ratings lowered Nuvectis Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. HC Wainwright increased their price objective on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Wall Street Zen upgraded 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 target on shares of Nuvectis Pharma in a research report on Monday, July 6th. Finally, Roth Capital raised their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.

Nuvectis Pharma Stock Up 5.1%

The company has a market cap of $653.26 million, a price-to-earnings ratio of -15.45 and a beta of -0.26. The company’s fifty day moving average price is $18.54 and its two-hundred day moving average price is $12.37.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.04). Research analysts forecast that Nuvectis Pharma, Inc. will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ron Bentsur acquired 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired 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 $73,768,480. This trade represents a 0.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Marlio Charles Mosseri bought 50,000 shares of Nuvectis Pharma stock in a transaction on Tuesday, June 30th. The shares were bought at an average price of $18.32 per share, for a total transaction of $916,000.00. Following the acquisition, the insider owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. The trade was a 1.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 28.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NVCT. Legal & General Group Plc bought a new position in Nuvectis Pharma during the second quarter worth about $31,000. JPMorgan Chase & Co. grew its position in Nuvectis Pharma by 3,398.9% in the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after purchasing an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Nuvectis Pharma in the 2nd quarter valued at about $53,000. Bank of America Corp DE increased its position in shares of Nuvectis Pharma by 417.2% during the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock worth $64,000 after purchasing an additional 6,909 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Nuvectis Pharma by 3,671.4% during the fourth quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock worth $96,000 after buying an additional 12,336 shares during the last quarter. Institutional investors and hedge funds 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.