Nuvectis Pharma (NASDAQ:NVCT) Sees Unusually-High Trading Volume on Insider Buying Activity

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares saw an uptick in trading volume on Wednesday after an insider bought additional shares in the company. Approximately 141,679 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 134,149 shares.The stock last traded at $19.39 and had previously closed at $18.39.

Specifically, CEO Ron Bentsur bought 12,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Marlio Charles Mosseri bought 50,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $18.32 per share, for a total transaction of $916,000.00. Following the transaction, 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 SEC filing for this purchase provides additional information.

Wall Street Analyst Weigh In

NVCT has been the subject of several research reports. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a report on Friday, June 5th. Finally, HC Wainwright boosted 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. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.00.

Nuvectis Pharma Stock Up 0.3%

The company has a market cap of $519.19 million, a PE ratio of -14.94 and a beta of -0.24. The firm has a 50 day simple moving average of $12.50 and a 200-day simple moving average of $9.83.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. As a group, equities analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Iridian Asset Management LLC CT increased its position in shares of Nuvectis Pharma by 44.5% during the fourth quarter. Iridian Asset Management LLC CT now owns 586,320 shares of the company’s stock worth $4,427,000 after purchasing an additional 180,699 shares in the last quarter. Occam Crest Management LP grew its stake in Nuvectis Pharma by 31.0% during the 4th 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 during the last quarter. Oppenheimer & Co. Inc. increased its position in Nuvectis Pharma by 6.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock valued at $555,000 after buying an additional 4,500 shares in the last quarter. Baldwin Wealth Partners LLC MA raised its stake in Nuvectis Pharma by 11.2% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 389,625 shares of the company’s stock valued at $2,942,000 after buying an additional 39,164 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Nuvectis Pharma by 31.3% in the fourth quarter. Barclays PLC now owns 24,185 shares of the company’s stock worth $183,000 after acquiring an additional 5,760 shares in the last quarter. Hedge funds and other institutional investors own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

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.