Nuvectis Pharma (NASDAQ:NVCT) Trading Up 4.2% – Should You Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares were up 4.2% during mid-day trading on Tuesday . The stock traded as high as $23.62 and last traded at $23.68. Approximately 13,325 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 168,527 shares. The stock had previously closed at $22.73.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NVCT. Weiss Ratings raised shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Cantor Fitzgerald assumed coverage on shares of Nuvectis Pharma in a research report on Monday, August 24th. They issued an “overweight” rating on the stock. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Capital raised their target price on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, UBS Group set a $33.00 price objective on shares of Nuvectis Pharma in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Trading Up 1.6%

The firm has a 50 day moving average price of $20.86 and a 200 day moving average price of $13.44. The stock has a market capitalization of $753.66 million, a PE ratio of -17.63 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings results 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). On average, equities research analysts expect that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Insider Activity

In related news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $18.32 per share, with a total value of $916,000.00. Following the purchase, the insider directly owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. This trade represents a 1.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ron Bentsur bought 12,500 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $20.00 per share, with a total value of $250,000.00. Following the acquisition, the chief executive officer directly owned 3,688,424 shares in the company, valued at approximately $73,768,480. The trade was a 0.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 28.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NVCT. Legal & General Group Plc bought a new position in Nuvectis Pharma in the second quarter worth approximately $31,000. JPMorgan Chase & Co. raised 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 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 during the 2nd quarter worth approximately $53,000. Bank of America Corp DE increased its position in shares of Nuvectis Pharma by 417.2% during the second 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 in the last quarter. Finally, California State Teachers Retirement System increased its position in Nuvectis Pharma by 376.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,991 shares of the company’s stock valued at $73,000 after buying an additional 3,154 shares in the last quarter. Hedge funds and other institutional investors 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.