Nuvectis Pharma (NASDAQ:NVCT) Sees Strong Trading Volume – Still a Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares saw unusually-strong trading volume on Thursday . 97,202 shares traded hands during trading, an increase of 7% from the previous session’s volume of 90,796 shares.The stock last traded at $24.62 and had previously closed at $24.48.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVCT shares. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. HC Wainwright raised their target price on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nuvectis Pharma currently has an average rating of “Hold” and a consensus target price of $39.00.

Nuvectis Pharma Stock Up 7.4%

The stock has a market capitalization of $697.47 million, a P/E ratio of -20.07 and a beta of -0.07. The stock has a 50 day simple moving average of $10.70 and a two-hundred day simple moving average of $9.13.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Sell-side analysts predict that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Nuvectis Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT lifted its stake in Nuvectis Pharma by 44.5% in the fourth quarter. Iridian Asset Management LLC CT now owns 586,320 shares of the company’s stock valued at $4,427,000 after acquiring an additional 180,699 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nuvectis Pharma by 110.8% during the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock worth $2,132,000 after purchasing an additional 149,999 shares during the last quarter. Occam Crest Management LP increased its stake in shares of 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 purchasing an additional 90,000 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Nuvectis Pharma in the 1st quarter valued at about $446,000. Finally, Jane Street Group LLC bought a new stake in shares of Nuvectis Pharma in the 1st quarter valued at about $413,000. 96.77% of the stock is owned by 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.