Nuvectis Pharma Target of Unusually Large Options Trading (NASDAQ:NVCT)

Key Points

• Options activity surged: Investors traded 3,044 Nuvectis Pharma call options, an 817% increase over the average volume of 332 contracts.
• Analyst views remain mixed: HC Wainwright and Roth Capital raised their price targets to $39 and $33, respectively, while Weiss Ratings maintained a sell rating. The consensus rating is “Hold,” with an average price target of $35.
• Shares fell 5.3% to $20.46 despite recent insider purchases by a major shareholder and the CEO. The company also missed quarterly earnings expectations, reporting a loss of $0.30 per share versus the consensus estimate of a $0.25 loss.

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) saw unusually large options trading activity on Tuesday. Investors acquired 3,044 call options on the company. This is an increase of 817% compared to the average volume of 332 call options.

Wall Street Analysts Forecast Growth

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

Nuvectis Pharma Stock Down 5.3%

Shares of NASDAQ:NVCT traded down $1.14 during midday trading on Tuesday, hitting $20.46. The stock had a trading volume of 286,078 shares, compared to its average volume of 162,656. The company's 50-day moving average price is $16.64 and its 200-day moving average price is $11.62. The company has a market capitalization of $542.91 million, a P/E ratio of -15.51 and a beta of -0.26. Nuvectis Pharma has a fifty-two week low of $5.55 and a fifty-two week high of $29.27.

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 for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.05). Research analysts expect that Nuvectis Pharma will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Nuvectis Pharma

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

Hedge Funds Weigh In On Nuvectis Pharma

A number of institutional investors have recently modified their holdings of NVCT. JPMorgan Chase & Co. lifted its position in shares of 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 buying an additional 6,084 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Nuvectis Pharma in the second quarter valued at about $53,000. Bank of America Corp DE raised its stake in Nuvectis Pharma by 417.2% during the second quarter. Bank of America Corp DE now owns 8,565 shares of the company's stock worth $64,000 after acquiring an additional 6,909 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Nuvectis Pharma by 3,671.4% in the fourth quarter. Deutsche Bank AG now owns 12,672 shares of the company's stock worth $96,000 after acquiring an additional 12,336 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Nuvectis Pharma in the second quarter worth about $97,000. Institutional investors and hedge funds own 96.77% of the company's stock.

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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