Nuvectis Pharma (NASDAQ:NVCT) Trading 0.5% Higher – Still a Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) rose 0.5% during mid-day trading on Friday . The stock traded as high as $7.91 and last traded at $7.75. Approximately 22,642 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 93,148 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating on shares of Nuvectis Pharma in a research report on Wednesday, December 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvectis Pharma in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.33.

Nuvectis Pharma Trading Up 0.5%

The stock’s fifty day moving average price is $6.59 and its 200 day moving average price is $6.83. The stock has a market cap of $198.48 million, a P/E ratio of -5.66 and a beta of -0.27.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.20). On average, analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Insider Transactions at Nuvectis Pharma

In other news, CEO Ron Bentsur acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $5.72 per share, with a total value of $28,600.00. Following the acquisition, the chief executive officer owned 3,525,924 shares in the company, valued at approximately $20,168,285.28. This represents a 0.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juan Sanchez bought 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $5.79 per share, with a total value of $75,270.00. Following the transaction, the director directly owned 78,150 shares in the company, valued at $452,488.50. The trade was a 19.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 183,770 shares of company stock worth $1,125,193. 30.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nuvectis Pharma in the 2nd quarter worth approximately $28,000. JPMorgan Chase & Co. raised its position in Nuvectis Pharma by 3,398.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after purchasing an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Nuvectis Pharma in the second quarter worth $53,000. Avalon Trust Co purchased a new stake in Nuvectis Pharma during the third quarter valued at about $60,000. Finally, Bank of America Corp DE boosted its position in Nuvectis Pharma by 417.2% during the second quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after buying an additional 6,909 shares during the period. 96.77% of the stock is owned by hedge funds and other institutional investors.

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.