Nuvectis Pharma (NASDAQ:NVCT) Hits New 12-Month High – Still a Buy?

Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) reached a new 52-week high on Tuesday . The company traded as high as $29.28 and last traded at $28.53, with a volume of 495447 shares. The stock had previously closed at $27.19.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NVCT shares. Wall Street Zen upgraded Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. Finally, HC Wainwright upped their price objective on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nuvectis Pharma has an average rating of “Hold” and a consensus target price of $39.00.

Nuvectis Pharma Stock Performance

The firm has a 50 day simple moving average of $12.28 and a two-hundred day simple moving average of $9.74. The firm has a market capitalization of $517.87 million, a P/E ratio of -14.90 and a beta of -0.25.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Sell-side analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Insider Transactions at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri bought 50,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were purchased 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 of the company’s stock, valued at approximately $58,378,072.32. This represents a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ron Bentsur bought 12,500 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the purchase, the chief executive officer directly owned 3,688,424 shares in the company, valued at approximately $73,768,480. The trade was a 0.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 28.55% of the company’s stock.

Institutional Trading of Nuvectis Pharma

A number of hedge funds have recently bought and sold shares of NVCT. Bank of America Corp DE grew its stake in Nuvectis Pharma by 10.2% in the 1st quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock valued at $115,000 after purchasing an additional 1,377 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of 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 boosted 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 worth $183,000 after buying an additional 5,760 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $332,000 after buying an additional 6,040 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in 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 buying an additional 6,084 shares during the last quarter. 96.77% of the stock is currently owned by institutional investors.

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.