Nuvectis Pharma (NASDAQ:NVCT) Sees Large Volume Increase – Still a Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares saw unusually-strong trading volume on Wednesday . 141,679 shares changed hands during trading, an increase of 6% from the previous session’s volume of 134,149 shares.The stock last traded at $19.39 and had previously closed at $18.39.

Analyst Upgrades and Downgrades

NVCT has been the subject of several recent research reports. HC Wainwright boosted their price objective on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.00.

Nuvectis Pharma Stock Performance

The stock has a market cap of $503.27 million, a P/E ratio of -14.48 and a beta of -0.07. The business has a 50 day simple moving average of $12.05 and a 200-day simple moving average of $9.66.

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, topping analysts’ consensus estimates of ($0.30) by $0.04. On average, 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

A number of hedge funds and other institutional investors have recently made changes to their positions in NVCT. JPMorgan Chase & Co. lifted its holdings in shares of 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 buying an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Nuvectis Pharma in the second quarter valued at approximately $53,000. Bank of America Corp DE lifted its holdings in shares of Nuvectis Pharma by 417.2% during the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock worth $64,000 after acquiring an additional 6,909 shares during the last quarter. Deutsche Bank AG raised its position in Nuvectis Pharma by 3,671.4% during the fourth quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock valued at $96,000 after purchasing an additional 12,336 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Nuvectis Pharma during the second quarter worth about $97,000. 96.77% of the stock is currently 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.