Nuvectis Pharma (NASDAQ:NVCT) Shares Down 7.5% - Should You Sell?

Key Points

• Shares fell 7.5% to about $21.27 in mid-day trading on unusually low volume, while the company’s 50-day and 200-day moving averages stood at $21.56 and $15.05, respectively.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $36.25; individual targets range from $33 to $40. However, Nuvectis missed its latest quarterly EPS estimate, reporting a loss of $0.30 versus expectations of $0.26.
• Insiders recently bought shares, including purchases by a major shareholder and the CEO, while institutional investors own 96.77% of the stock. Nuvectis remains a clinical-stage biotech focused on cancer therapies, including investigational drugs NXP800 and NXP900.

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) fell 7.5% during mid-day trading on Wednesday . The stock traded as low as $21.53 and last traded at $21.2710. 28,119 shares were traded during mid-day trading, a decline of 84% from the average session volume of 172,077 shares. The stock had previously closed at $23.00.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings raised Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday. UBS Group set a $33.00 target price on shares of Nuvectis Pharma in a report on Monday, July 6th. Cantor Fitzgerald began coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They set an "overweight" rating for the company. Roth Capital raised their price objective on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Finally, Loop Capital set a $40.00 target price on shares of Nuvectis Pharma in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.25.

Nuvectis Pharma Trading Down 6.8%

The company has a market capitalization of $699.80 million, a price-to-earnings ratio of -16.32 and a beta of -0.26. The firm's 50 day simple moving average is $21.56 and its 200-day simple moving average is $15.05.

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 analysts' consensus estimates of ($0.26) by ($0.04). As a group, sell-side analysts forecast that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of Nuvectis Pharma stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $18.32 per share, for a total transaction of $916,000.00. Following the completion of the purchase, the insider directly owned 3,186,576 shares of the company's stock, valued at approximately $58,378,072.32. This trade represents a 1.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ron Bentsur bought 12,500 shares of the stock in a transaction on Tuesday, June 30th. The shares were bought 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 directly owned 3,688,424 shares of the company's stock, valued at $73,768,480. This trade represents a 0.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 28.55% of the stock is currently owned by company insiders.

Institutional Trading of Nuvectis Pharma

Several large investors have recently bought and sold shares of NVCT. BlackRock Inc. purchased a new stake in shares of Nuvectis Pharma in the second quarter valued at about $18,414,000. Alyeska Investment Group L.P. purchased a new stake in Nuvectis Pharma in the 2nd quarter valued at approximately $5,057,000. Stonepine Capital Management LLC acquired a new stake in Nuvectis Pharma during the 2nd quarter valued at $735,600. Bank of New York Mellon Corp purchased a new position in Nuvectis Pharma during the second quarter worth $676,000. Finally, Occam Crest Management LP raised its holdings in shares of Nuvectis Pharma by 31.0% in the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company's stock worth $2,869,000 after acquiring an additional 90,000 shares during the last quarter. Institutional investors and hedge funds own 96.77% of the company's stock.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer and other serious diseases with limited therapeutic options. The company's research and development efforts are centered on small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis' lead programs include NXP800, an investigational inhibitor of the heat shock factor 1 pathway being evaluated for potential use in selected solid tumors, and NXP900, an investigational inhibitor of the SRC and YES1 protein kinases.

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