Nuvectis Pharma (NASDAQ:NVCT) Stock Rating Upgraded by Lucid Cap Mkts

Nuvectis Pharma (NASDAQ:NVCT) was upgraded by analysts at Lucid Cap Mkts to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Capital lifted their price target on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Loop Capital set a $40.00 price target on Nuvectis Pharma in a report on Tuesday. Cantor Fitzgerald started coverage on Nuvectis Pharma in a research note on Monday, August 24th. They issued an “overweight” rating on the stock. Finally, Weiss Ratings upgraded Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Nuvectis Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Nuvectis Pharma Price Performance

Shares of NASDAQ NVCT opened at $24.37 on Tuesday. Nuvectis Pharma has a 1 year low of $5.55 and a 1 year high of $29.27. The firm has a 50-day simple moving average of $20.89 and a two-hundred day simple moving average of $13.76. The company has a market cap of $795.44 million, a P/E ratio of -18.60 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). As a group, equities research analysts expect that Nuvectis Pharma will post -1.01 EPS for the current year.

Insider Buying and Selling at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of Nuvectis Pharma 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 transaction, the insider owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. The trade was a 1.59% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ron Bentsur bought 12,500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the transaction, the chief executive officer owned 3,688,424 shares of the company’s stock, valued at approximately $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 28.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Nuvectis Pharma in the 2nd quarter valued at $18,414,000. Vanguard Group Inc. raised its position in shares of Nuvectis Pharma by 4.8% in the third quarter. Vanguard Group Inc. now owns 698,708 shares of the company’s stock valued at $4,206,000 after buying an additional 31,903 shares during the last quarter. Occam Crest Management LP lifted its stake in shares of Nuvectis Pharma by 31.0% in the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after buying an additional 90,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Nuvectis Pharma by 11.8% during the 4th quarter. Geode Capital Management LLC now owns 364,024 shares of the company’s stock valued at $2,749,000 after acquiring an additional 38,291 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Nuvectis Pharma in the second quarter valued at approximately $5,057,000. 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.