Cantor Fitzgerald began coverage on shares of Nuvectis Pharma (NASDAQ:NVCT – Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued an overweight rating on the stock.
Other equities research analysts have also issued reports about the company. Weiss Ratings upgraded Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Roth Capital increased their price objective on Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 6th. UBS Group set a $33.00 price objective on Nuvectis Pharma in a report on Monday, July 6th. HC Wainwright raised their price objective on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.00.
Read Our Latest Research Report on NVCT
Nuvectis Pharma Stock Down 3.4%
Nuvectis Pharma (NASDAQ:NVCT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). On average, analysts expect that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Ron Bentsur bought 12,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $20.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the chief executive officer owned 3,688,424 shares of the company’s stock, valued at $73,768,480. The trade was a 0.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Marlio Charles Mosseri bought 50,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of $18.32 per share, for a total transaction of $916,000.00. Following the completion of the acquisition, the insider directly owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. This represents a 1.59% increase in their position. The SEC filing for this purchase provides additional information. 28.55% of the stock is owned by company insiders.
Hedge Funds Weigh In On Nuvectis Pharma
Large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in Nuvectis Pharma in the 2nd quarter worth about $31,000. JPMorgan Chase & Co. increased its stake in Nuvectis Pharma by 3,398.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after purchasing an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Nuvectis Pharma in the second quarter worth about $53,000. Bank of America Corp DE raised its holdings in Nuvectis Pharma by 417.2% in the second 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 last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Nuvectis Pharma by 376.8% in the second quarter. California State Teachers Retirement System now owns 3,991 shares of the company’s stock worth $73,000 after buying an additional 3,154 shares in the last quarter. Hedge funds and other institutional investors 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.
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