Stonepine Capital Management LLC Makes New Investment in Nuvectis Pharma, Inc. $NVCT

Key Points

• Stonepine Capital Management bought 40,000 shares of Nuvectis Pharma during the second quarter, acquiring about 0.12% of the company. The stake was reported as valued at approximately $735,600.
• Nuvectis insiders also increased their holdings: CEO Ron Bentsur purchased 12,500 shares, while major shareholder Marlio Charles Mosseri bought 50,000 shares. Insiders own 28.55% of the stock, and institutional investors hold 96.77%.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $35.00. NVCT recently traded at $25.19, while the company reported a quarterly EPS loss of $0.30, missing estimates by $0.04.

Stonepine Capital Management LLC bought a new stake in Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 40,000 shares of the company's stock, valued at approximately $735,600,000. Stonepine Capital Management LLC owned about 0.12% of Nuvectis Pharma as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Nuvectis Pharma by 10.2% during the first 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 during the last quarter. Legal & General Group Plc bought a new stake in Nuvectis Pharma in the 2nd quarter valued at about $31,000. Oppenheimer & Co. Inc. boosted its stake 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 purchasing an additional 4,500 shares during the period. Barclays PLC boosted its stake in Nuvectis Pharma by 31.3% during the 4th quarter. Barclays PLC now owns 24,185 shares of the company's stock valued at $183,000 after purchasing an additional 5,760 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Nuvectis Pharma by 15.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company's stock worth $332,000 after purchasing an additional 6,040 shares during the last quarter. Institutional investors and hedge funds own 96.77% of the company's stock.

Insider Transactions at Nuvectis Pharma

In other Nuvectis Pharma news, CEO Ron Bentsur purchased 12,500 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was bought at an average cost of $20.00 per share, with a total value of $250,000.00. Following the acquisition, the chief executive officer owned 3,688,424 shares of the company's stock, valued at $73,768,480. The trade was a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Marlio Charles Mosseri acquired 50,000 shares of Nuvectis Pharma stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $18.32 per share, with a total value of $916,000.00. Following the transaction, the insider owned 3,186,576 shares in the company, valued at approximately $58,378,072.32. This represents a 1.59% increase in their position. The disclosure for this purchase is available in the SEC filing. 28.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVCT. 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 stock a "buy" rating in a report on Monday, July 6th. Cantor Fitzgerald initiated coverage on Nuvectis Pharma in a research report on Monday. They issued an "overweight" rating on the stock. Weiss Ratings upgraded Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 20th. Finally, UBS Group set a $33.00 target price on Nuvectis Pharma in a research note on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nuvectis Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Nuvectis Pharma Price Performance

NVCT opened at $25.19 on Friday. The company has a market capitalization of $822.30 million, a price-to-earnings ratio of -19.23 and a beta of -0.26. Nuvectis Pharma, Inc. has a 1-year low of $5.55 and a 1-year high of $29.27. The business has a 50 day moving average price of $20.54 and a two-hundred day moving average price of $13.24.

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

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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