Nuvectis Pharma (NASDAQ:NVCT) Stock Price Down 5.6% - Should You Sell?

Key Points

• NVCT shares fell 5.6% to $22.04, with trading volume down 97% from its average; the stock remains above its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $36.25, although one firm maintained a sell rating.
• Nuvectis reported a quarterly EPS loss of $0.30, missing expectations by $0.04. Insiders own 28.55% of the company, while institutional investors hold 96.77%.

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) shares dropped 5.6% during trading on Tuesday . The stock traded as low as $22.31 and last traded at $22.04. Approximately 5,146 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 168,121 shares. The stock had previously closed at $23.35.

Analysts Set New Price Targets

Several analysts have commented on NVCT shares. Cantor Fitzgerald assumed coverage on shares of Nuvectis Pharma in a research report on Monday, August 24th. They set an "overweight" rating for the company. Roth Capital boosted their price objective on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Weiss Ratings lowered shares of Nuvectis Pharma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, September 4th. UBS Group set a $33.00 price objective on Nuvectis Pharma in a report on Monday, July 6th. Finally, Lucid Cap Mkts raised Nuvectis Pharma to a "strong-buy" rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Nuvectis Pharma has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Nuvectis Pharma Stock Performance

The stock's 50 day simple moving average is $21.16 and its 200-day simple moving average is $14.50. The firm has a market cap of $726.17 million, a price-to-earnings ratio of -16.97 and a beta of -0.26.

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

Insider Activity at Nuvectis Pharma

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at about $5,057,000. Stonepine Capital Management LLC acquired a new position in shares of Nuvectis Pharma during the 2nd quarter worth approximately $735,600. Bank of America Corp DE purchased a new position in shares of Nuvectis Pharma during the 2nd quarter valued at approximately $218,000. Legal & General Group Plc acquired a new stake in Nuvectis Pharma in the 2nd quarter valued at $31,000. Finally, BlackRock Inc. acquired a new stake in Nuvectis Pharma in the 2nd quarter valued at $18,414,000. Hedge funds and other institutional investors own 96.77% of the company's stock.

About Nuvectis Pharma

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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