BlackRock Inc. Acquires New Stake in Nuvectis Pharma, Inc. $NVCT

BlackRock Inc. bought a new position in shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,001,285 shares of the company's stock, valued at approximately $18,414,000. BlackRock Inc. owned approximately 3.07% of Nuvectis Pharma at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Deutsche Bank AG acquired a new stake in Nuvectis Pharma in the 2nd quarter valued at about $310,000. Bank of New York Mellon Corp purchased a new position in Nuvectis Pharma in the second quarter worth approximately $676,000. Avalon Trust Co acquired a new position in Nuvectis Pharma during the 2nd quarter worth approximately $257,000. Bank of America Corp DE grew its holdings in Nuvectis Pharma by 10.2% during the 1st quarter. Bank of America Corp DE now owns 14,847 shares of the company's stock worth $115,000 after acquiring an additional 1,377 shares in the last quarter. Finally, Occam Crest Management LP increased its position in shares of 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 purchasing an additional 90,000 shares during the last quarter. Institutional investors and hedge funds own 96.77% of the company's stock.

Nuvectis Pharma Price Performance

NASDAQ NVCT opened at $24.37 on Friday. Nuvectis Pharma, Inc. has a 1 year low of $5.55 and a 1 year high of $29.27. The company has a market capitalization of $795.44 million, a PE ratio of -18.60 and a beta of -0.26. The company has a fifty day moving average of $20.89 and a two-hundred 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 analysts' consensus estimates of ($0.26) by ($0.04). On average, research analysts expect that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on NVCT. UBS Group set a $33.00 target price on shares of Nuvectis Pharma in a research note on Monday, July 6th. Wall Street Zen raised Nuvectis Pharma from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Roth Capital increased their price objective on Nuvectis Pharma from $20.00 to $33.00 and gave the company a "buy" rating in a report on Monday, July 6th. Loop Capital set a $40.00 target price on Nuvectis Pharma in a research report on Tuesday. Finally, Weiss Ratings upgraded Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Insider Buying and Selling

In other news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $18.32 per share, with a total value of $916,000.00. Following the completion of the acquisition, the insider owned 3,186,576 shares of the company's stock, valued at $58,378,072.32. The trade was 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 acquired 12,500 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $20.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the chief executive officer directly 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 position. The SEC filing for this purchase provides additional information. 28.55% of the stock is currently owned by insiders.

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.

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