Nuvectis Pharma (NASDAQ:NVCT) Shares Up 6.3% – Still a Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT)’s stock price shot up 6.3% on Tuesday . The company traded as high as $9.88 and last traded at $9.65. 94,856 shares traded hands during trading, an increase of 86% from the average session volume of 50,868 shares. The stock had previously closed at $9.08.

Analysts Set New Price Targets

Several research firms have issued reports 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 Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.33.

Nuvectis Pharma Stock Up 6.3%

The business’s 50 day simple moving average is $8.61 and its 200 day simple moving average is $7.22. The company has a market capitalization of $255.63 million, a PE ratio of -7.31 and a beta of -0.31.

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

Institutional Trading of Nuvectis Pharma

Several hedge funds and other institutional investors have recently modified their holdings of NVCT. Vanguard Group Inc. raised its position in Nuvectis Pharma by 4.8% during the third quarter. Vanguard Group Inc. now owns 698,708 shares of the company’s stock valued at $4,206,000 after buying an additional 31,903 shares during the period. Iridian Asset Management LLC CT lifted its stake in Nuvectis Pharma by 44.5% in the 4th quarter. Iridian Asset Management LLC CT now owns 586,320 shares of the company’s stock worth $4,427,000 after acquiring an additional 180,699 shares in the last quarter. Baldwin Wealth Partners LLC MA boosted its position in Nuvectis Pharma by 11.2% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 389,625 shares of the company’s stock worth $2,942,000 after acquiring an additional 39,164 shares during the period. Occam Crest Management LP boosted its position in Nuvectis Pharma by 31.0% during the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after acquiring an additional 90,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in Nuvectis Pharma by 11.8% during the 4th quarter. Geode Capital Management LLC now owns 364,024 shares of the company’s stock valued at $2,749,000 after acquiring an additional 38,291 shares in 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.