Nuvectis Pharma (NASDAQ:NVCT) Stock Price Up 0.5% – Here’s Why

Nuvectis Pharma, Inc. (NASDAQ:NVCT)’s stock price rose 0.5% on Friday . The company traded as high as $7.91 and last traded at $7.75. Approximately 22,642 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 93,148 shares. The stock had previously closed at $7.71.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVCT. HC Wainwright reaffirmed a “buy” rating on shares of Nuvectis Pharma in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuvectis Pharma in a research note on Wednesday, October 8th. Three equities research analysts have 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

Nuvectis Pharma Stock Performance

The company has a market capitalization of $198.48 million, a P/E ratio of -5.66 and a beta of -0.27. The firm’s fifty day moving average is $6.59 and its 200-day moving average is $6.84.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results on Tuesday, November 4th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.20). As a group, analysts expect that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Juan Sanchez purchased 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $5.79 per share, with a total value of $75,270.00. Following the acquisition, the director owned 78,150 shares of the company’s stock, valued at $452,488.50. This represents a 19.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Marlio Charles Mosseri bought 72,836 shares of the company’s stock in a transaction on Monday, October 27th. The stock was bought at an average price of $6.28 per share, for a total transaction of $457,410.08. Following the completion of the purchase, the insider owned 3,136,576 shares of the company’s stock, valued at approximately $19,697,697.28. The trade was a 2.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 183,770 shares of company stock worth $1,125,193 over the last three months. Company insiders own 30.52% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

A number of large investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nuvectis Pharma during the second quarter valued at about $28,000. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at $53,000. Bank of America Corp DE increased its position in Nuvectis Pharma by 417.2% during the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after buying an additional 6,909 shares in the last quarter. Finally, Avalon Trust Co purchased a new stake in Nuvectis Pharma during the 3rd quarter valued at about $60,000. 96.77% of the stock is owned by institutional investors.

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.