Nuvectis Pharma (NASDAQ:NVCT) Upgraded by Lucid Cap Mkts to "Strong-Buy" Rating

Key Points

• Lucid Capital Markets upgraded Nuvectis Pharma to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $36.25.
• NVCT shares opened at $24.37, well above their 52-week low of $5.55 but below the high of $29.27. The company reported a quarterly loss of $0.30 per share, missing expectations by $0.04.
• Insiders recently bought shares, including purchases by major shareholder Marlio Charles Mosseri and CEO Ron Bentsur; insiders own 28.55% of the company, while institutional investors hold 96.77%.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) was upgraded by investment analysts at Lucid Cap Mkts to a "strong-buy" rating in a research note issued on Tuesday, Zacks reports.

A number of other analysts have also commented on NVCT. Cantor Fitzgerald began coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an "overweight" rating on the stock. Wall Street Zen upgraded Nuvectis Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Roth Capital raised their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Weiss Ratings upgraded Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th. Finally, UBS Group set a $33.00 price target on shares of Nuvectis Pharma in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nuvectis Pharma currently has an average rating of "Moderate Buy" and an average target price of $36.25.

Nuvectis Pharma Price Performance

Shares of NVCT stock opened at $24.37 on Tuesday. 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 has a one year low of $5.55 and a one year high of $29.27. The firm has a 50-day moving average of $20.89 and a 200-day moving average of $13.76.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). As a group, research analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Nuvectis Pharma

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NVCT. Goldman Sachs Group Inc. purchased a new stake in shares of Nuvectis Pharma in the first quarter worth about $446,000. Jane Street Group LLC bought a new stake in Nuvectis Pharma during the 1st quarter worth approximately $413,000. Geode Capital Management LLC increased its holdings in Nuvectis Pharma by 110.8% during the 2nd quarter. Geode Capital Management LLC now owns 285,332 shares of the company's stock worth $2,132,000 after acquiring an additional 149,999 shares during the period. JPMorgan Chase & Co. lifted its stake in Nuvectis Pharma by 3,398.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company's stock worth $47,000 after purchasing an additional 6,084 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in Nuvectis Pharma in the 2nd quarter worth approximately $97,000. 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.

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