Nuvectis Pharma (NASDAQ:NVCT) Sees Unusually-High Trading Volume – Time to Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares saw unusually-strong trading volume on Thursday . Approximately 97,202 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 90,796 shares.The stock last traded at $24.62 and had previously closed at $24.48.

Wall Street Analyst Weigh In

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

Nuvectis Pharma Stock Performance

The business has a 50-day moving average of $11.46 and a 200 day moving average of $9.41. The stock has a market cap of $721.35 million, a PE ratio of -20.76 and a beta of -0.07.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. Equities analysts expect that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors and hedge funds have recently modified their holdings of the company. Iridian Asset Management LLC CT grew its stake in Nuvectis Pharma by 44.5% in the 4th quarter. Iridian Asset Management LLC CT now owns 586,320 shares of the company’s stock worth $4,427,000 after acquiring an additional 180,699 shares during the period. Geode Capital Management LLC raised its holdings in Nuvectis Pharma by 110.8% in the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company’s stock valued at $2,132,000 after acquiring an additional 149,999 shares during the last quarter. Occam Crest Management LP raised its holdings in Nuvectis Pharma by 31.0% in the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after acquiring an additional 90,000 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Nuvectis Pharma during the 1st quarter worth $446,000. Finally, Jane Street Group LLC purchased a new position in shares of Nuvectis Pharma during the 1st quarter worth $413,000. 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.