Nuvectis Pharma (NASDAQ:NVCT) Stock Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $20.89 and traded as high as $21.05. Nuvectis Pharma shares last traded at $20.91, with a volume of 257,686 shares traded.

Analyst Upgrades and Downgrades

NVCT has been the subject of a number of analyst reports. Weiss Ratings upgraded Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. Wall Street Zen downgraded Nuvectis Pharma from a “hold” rating to a “sell” rating in a report on Saturday. Loop Capital set a $40.00 price target on shares of Nuvectis Pharma in a report on Tuesday, September 1st. Cantor Fitzgerald assumed coverage on Nuvectis Pharma in a research report on Monday, August 24th. They issued an “overweight” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Nuvectis Pharma in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.

Nuvectis Pharma Stock Up 17.7%

The firm has a market cap of $682.50 million, a price-to-earnings ratio of -11.06 and a beta of -0.21. The business’s fifty day moving average is $20.89 and its two-hundred day moving average is $14.88.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.78). Research analysts forecast that Nuvectis Pharma, Inc. will post -1.30 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVCT. BlackRock Inc. acquired a new position in Nuvectis Pharma in the 2nd quarter worth about $18,414,000. Alyeska Investment Group L.P. bought a new position in Nuvectis Pharma during the second quarter valued at $5,057,000. Stonepine Capital Management LLC purchased a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at $735,600. Bank of New York Mellon Corp bought a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at $676,000. Finally, Deutsche Bank AG purchased a new stake in Nuvectis Pharma during the second quarter valued at $310,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer, with an emphasis on cancers that have limited therapeutic options. The company is headquartered in Fort Lee, New Jersey, and its common stock trades on the Nasdaq Capital Market under the symbol NVCT.

Nuvectis Pharma’s lead product candidate is NXP800, an orally administered small-molecule inhibitor of heat shock protein 90 (HSP90). The company is evaluating NXP800 in clinical studies for certain advanced solid tumors, including platinum-resistant ovarian cancer and cholangiocarcinoma.