Nuvectis Pharma (NASDAQ:NVCT) Issues Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• Nuvectis Pharma reported a quarterly loss of $0.30 per share, missing analyst estimates by $0.05.
• Shares traded down $1.09 to $20.50, while the stock’s market capitalization stood at approximately $544 million and its 52-week range was $5.55 to $29.27.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $35.00; meanwhile, company insiders recently purchased shares and insiders own 28.55% of the stock.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.05), FiscalAI reports.

Nuvectis Pharma Price Performance

NASDAQ:NVCT traded down $1.09 during midday trading on Tuesday, reaching $20.50. 311,748 shares of the company traded hands, compared to its average volume of 162,898. The firm has a market capitalization of $544.00 million, a price-to-earnings ratio of -15.65 and a beta of -0.26. The company has a fifty day moving average price of $16.64 and a 200 day moving average price of $11.62. Nuvectis Pharma has a twelve month low of $5.55 and a twelve month high of $29.27.

Analyst Ratings Changes

NVCT has been the topic of several research reports. Wall Street Zen upgraded shares of Nuvectis Pharma from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. HC Wainwright increased their price objective on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Roth Capital raised their target price on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Finally, UBS Group set a $33.00 target price on shares of Nuvectis Pharma in a report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.00.

Insiders Place Their Bets

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

Institutional Trading of Nuvectis Pharma

Several large investors have recently added to or reduced their stakes in NVCT. JPMorgan Chase & Co. boosted its position in Nuvectis Pharma by 3,398.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company's stock worth $47,000 after acquiring an additional 6,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Nuvectis Pharma in the second quarter worth about $53,000. Bank of America Corp DE grew its position in Nuvectis Pharma by 417.2% in the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company's stock valued at $64,000 after buying an additional 6,909 shares in the last quarter. Deutsche Bank AG raised its position in shares of Nuvectis Pharma by 3,671.4% during the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company's stock worth $96,000 after buying an additional 12,336 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter worth approximately $97,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.

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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