Stonepine Capital Management LLC Buys Shares of 40,000 Nuvectis Pharma, Inc. $NVCT

Stonepine Capital Management LLC acquired a new stake in Nuvectis Pharma, Inc. (NASDAQ:NVCTFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 40,000 shares of the company’s stock, valued at approximately $735,600. Stonepine Capital Management LLC owned about 0.12% of Nuvectis Pharma as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Nuvectis Pharma by 10.2% in the first quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock worth $115,000 after purchasing an additional 1,377 shares in the last quarter. Legal & General Group Plc purchased a new position in Nuvectis Pharma during the 2nd quarter valued at about $31,000. Oppenheimer & Co. Inc. raised its position in Nuvectis Pharma by 6.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock worth $555,000 after buying an additional 4,500 shares during the last quarter. Barclays PLC lifted its stake in Nuvectis Pharma by 31.3% in the 4th quarter. Barclays PLC now owns 24,185 shares of the company’s stock worth $183,000 after purchasing an additional 5,760 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Nuvectis Pharma by 15.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock worth $332,000 after purchasing an additional 6,040 shares during the period. 96.77% of the stock is currently owned by institutional investors.

Nuvectis Pharma Price Performance

NVCT stock traded down $1.46 on Friday, hitting $23.73. 137,203 shares of the company were exchanged, compared to its average volume of 169,341. The stock has a market capitalization of $774.64 million, a price-to-earnings ratio of -18.11 and a beta of -0.26. The business’s fifty day moving average is $20.54 and its two-hundred day moving average is $13.24. Nuvectis Pharma, Inc. has a twelve month low of $5.55 and a twelve month high of $29.27.

Nuvectis Pharma (NASDAQ:NVCTGet Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.04). Equities research analysts expect that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Insider Transactions at Nuvectis Pharma

In other news, major shareholder Marlio Charles Mosseri purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $18.32 per share, for a total transaction of $916,000.00. Following the purchase, the insider directly owned 3,186,576 shares in the company, valued at approximately $58,378,072.32. This trade represents a 1.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ron Bentsur acquired 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of $20.00 per share, with a total value of $250,000.00. Following the acquisition, the chief executive officer owned 3,688,424 shares in the company, valued at $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 28.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NVCT has been the subject of several analyst reports. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. UBS Group set a $33.00 price target on Nuvectis Pharma in a research report on Monday, July 6th. Cantor Fitzgerald began coverage on shares of Nuvectis Pharma in a report on Monday. They issued an “overweight” rating for the company. Finally, HC Wainwright upped their price objective on Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Nuvectis Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Check Out Our Latest Report on Nuvectis Pharma

About Nuvectis Pharma

(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.

See Also

Institutional Ownership by Quarter for Nuvectis Pharma (NASDAQ:NVCT)

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