Nuvectis Pharma (NASDAQ:NVCT) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Nuvectis Pharma's stock has been given a "sell (e+)" rating by Weiss Ratings, reflecting a negative outlook on the company's performance.
• The company reported earnings per share of ($0.30), which fell short of the consensus estimate of ($0.25), indicating ongoing financial challenges.
• Institutional investors hold a significant 96.77% stake in Nuvectis Pharma, with recent investments from major funds such as JPMorgan Chase and Bank of America, highlighting strong institutional interest amidst rating downgrades.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report)'s stock had its "sell (e+)" rating restated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded Nuvectis Pharma from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. HC Wainwright dropped their price target on Nuvectis Pharma from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nuvectis Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $15.33.

Nuvectis Pharma Price Performance

NASDAQ NVCT opened at $6.23 on Wednesday. Nuvectis Pharma has a 1-year low of $4.44 and a 1-year high of $11.80. The company has a market capitalization of $158.60 million, a P/E ratio of -5.32 and a beta of -0.29. The business has a 50 day moving average price of $6.37 and a 200 day moving average price of $7.96.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). On average, research analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Nuvectis Pharma in the second quarter valued at $28,000. JPMorgan Chase & Co. boosted its holdings in Nuvectis Pharma by 3,398.9% in the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company's stock valued at $47,000 after acquiring an additional 6,084 shares during the last quarter. Bank of America Corp DE boosted its holdings in Nuvectis Pharma by 417.2% in the second quarter. Bank of America Corp DE now owns 8,565 shares of the company's stock valued at $64,000 after acquiring an additional 6,909 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Nuvectis Pharma in the second quarter valued at $53,000. Finally, New York State Common Retirement Fund acquired a new position in Nuvectis Pharma in the second quarter valued at $97,000. Hedge funds and other institutional investors own 96.77% of the company's stock.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.

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