Nuvectis Pharma (NASDAQ:NVCT) Stock Price Down 5.3% - Time to Sell?

Key Points

• Nuvectis Pharma shares fell 5.3% to $20.76 in light trading, with volume down 88% from the average session.
• Analysts remain broadly optimistic, giving the stock a “Moderate Buy” consensus and an average price target of $36.25, well above its current price.
• The clinical-stage biotech missed quarterly earnings estimates, reporting a loss of $0.30 per share versus the expected $0.26 loss; analysts project a full-year loss of $1.01 per share.

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) shares traded down 5.3% during trading on Monday. The stock traded as low as $21.30 and last traded at $20.76. Approximately 20,001 shares were traded during mid-day trading, a decline of 88% from the average session volume of 172,861 shares. The stock had previously closed at $21.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Loop Capital set a $40.00 price objective on Nuvectis Pharma in a report on Tuesday, September 1st. Weiss Ratings upgraded shares of Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 21st. Lucid Cap Mkts upgraded shares of Nuvectis Pharma to a "strong-buy" rating in a research note on Tuesday, September 1st. Cantor Fitzgerald began coverage on shares of Nuvectis Pharma in a research report on Monday, August 24th. They set an "overweight" rating for the company. Finally, Roth Capital upped their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.25.

Nuvectis Pharma Price Performance

The stock has a market cap of $673.85 million, a price-to-earnings ratio of -15.84 and a beta of -0.24. The business's 50-day simple moving average is $21.86 and its two-hundred day simple moving average is $15.72.

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

Institutional Trading of Nuvectis Pharma

Large investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in Nuvectis Pharma during the second quarter worth $31,000. Bank of America Corp DE boosted its position in shares of Nuvectis Pharma by 10.2% during the 1st quarter. Bank of America Corp DE now owns 14,847 shares of the company's stock worth $115,000 after purchasing an additional 1,377 shares in the last quarter. Avalon Trust Co acquired a new stake in Nuvectis Pharma in the 2nd quarter valued at $257,000. Deutsche Bank AG bought a new stake in Nuvectis Pharma during the 2nd quarter worth approximately $310,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Nuvectis Pharma during the second quarter valued at about $676,000. Institutional investors and hedge funds own 96.77% of the company's stock.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients with cancer and other serious unmet medical needs. The company's research and development programs are centered on novel small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis' lead product candidate, NXP800, is an orally administered investigational inhibitor of the heat shock factor 1 pathway. It is being evaluated in clinical studies for advanced solid tumors, including ovarian cancer and other tumor types in which this pathway may play a role.

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