Nuvectis Pharma (NASDAQ:NVCT) CEO Ron Bentsur Acquires 12,500 Shares

Nuvectis Pharma, Inc. (NASDAQ:NVCT) CEO Ron Bentsur acquired 12,500 shares of Nuvectis Pharma stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost 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 approximately $73,768,480. The trade was a 0.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Nuvectis Pharma Stock Up 6.1%

NVCT opened at $19.52 on Thursday. Nuvectis Pharma, Inc. has a twelve month low of $5.55 and a twelve month high of $29.27. The company has a fifty day moving average of $12.28 and a 200-day moving average of $9.74. The stock has a market cap of $517.87 million, a PE ratio of -14.90 and a beta of -0.25.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. Sell-side analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvectis Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new position in shares of Nuvectis Pharma during the first quarter valued at about $446,000. Jane Street Group LLC bought a new stake in Nuvectis Pharma in the 1st quarter valued at about $413,000. Geode Capital Management LLC increased its position in Nuvectis Pharma by 110.8% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Nuvectis Pharma by 3,398.9% during the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after acquiring an additional 6,084 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Nuvectis Pharma during the second quarter valued at approximately $97,000. 96.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright upped their target price on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Wall Street Zen upgraded Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

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.