Nuvectis Pharma (NASDAQ:NVCT) Reaches New 52-Week High – Should You Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares hit a new 52-week high on Wednesday . The company traded as high as $19.67 and last traded at $19.9390, with a volume of 102743 shares trading hands. The stock had previously closed at $17.55.

Analysts Set New Price Targets

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

Nuvectis Pharma Stock Up 15.7%

The stock has a 50 day simple moving average of $10.38 and a 200 day simple moving average of $9.01. The company has a market cap of $538.82 million, a price-to-earnings ratio of -15.50 and a beta of -0.07.

Nuvectis Pharma (NASDAQ:NVCT) last issued its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. As a group, equities research analysts expect that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Trading of Nuvectis Pharma

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position 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 worth $47,000 after purchasing an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Nuvectis Pharma during the 2nd quarter valued at $53,000. Bank of America Corp DE increased its stake in 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 buying an additional 6,909 shares during the period. Avalon Trust Co purchased a new stake in Nuvectis Pharma during the 3rd quarter worth $60,000. Finally, Deutsche Bank AG lifted its holdings in Nuvectis Pharma by 3,671.4% in the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock worth $96,000 after buying an additional 12,336 shares in the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

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.