Nuvectis Pharma (NASDAQ:NVCT) Announces Earnings Results

Nuvectis Pharma (NASDAQ:NVCT – Get Free Report) issued its earnings results on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05), FiscalAI reports.

Nuvectis Pharma Stock Performance

NASDAQ:NVCT traded down $1.72 during midday trading on Tuesday, reaching $19.88. 365,932 shares of the stock traded hands, compared to its average volume of 163,417. The stock has a market capitalization of $527.42 million, a PE ratio of -15.26 and a beta of -0.26. Nuvectis Pharma has a 12-month low of $5.55 and a 12-month high of $29.27. The business has a 50-day moving average of $16.64 and a two-hundred day moving average of $11.62.

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Insider Buying and Selling at Nuvectis Pharma

In other Nuvectis Pharma news, CEO Ron Bentsur acquired 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 transaction, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Marlio Charles Mosseri purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $18.32 per share, with a total value of $916,000.00. Following the completion of the purchase, the insider owned 3,186,576 shares of the company’s stock, valued at $58,378,072.32. The trade was a 1.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 28.55% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVCT. Barclays PLC lifted its holdings in shares of Nuvectis Pharma by 31.3% in the 4th quarter. Barclays PLC now owns 24,185 shares of the company’s stock valued at $183,000 after buying an additional 5,760 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Nuvectis Pharma by 15.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock worth $332,000 after buying an additional 6,040 shares in the last quarter. State Street Corp grew its position in Nuvectis Pharma by 13.1% during the fourth quarter. State Street Corp now owns 154,666 shares of the company’s stock valued at $1,168,000 after buying an additional 17,950 shares during the period. Wells Fargo & Company MN raised its position in shares of Nuvectis Pharma by 114.1% in the fourth quarter. Wells Fargo & Company MN now owns 16,929 shares of the company’s stock worth $128,000 after acquiring an additional 9,022 shares during the period. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Nuvectis Pharma during the 4th quarter worth about $110,000. 96.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on NVCT shares. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. UBS Group set a $33.00 target price on shares of Nuvectis Pharma in a research report on Monday, July 6th. Roth Capital increased their price target on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, HC Wainwright boosted their price objective on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Get Our Latest Analysis on NVCT

About Nuvectis Pharma

(Get Free Report)

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.

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