Nuvectis Pharma (NASDAQ:NVCT) Stock Price Down 6.8% - Should You Sell?

Key Points

• Nuvectis Pharma shares fell 6.8% to $18.35 in midday trading, with volume 56% below the average session level.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a consensus price target of $36.25; targets range from $33 to $39.
• The clinical-stage biotech missed quarterly EPS expectations, reporting a $0.30 loss versus the expected $0.26 loss, while institutional investors own 96.77% of the stock.

Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) were down 6.8% on Tuesday. The company traded as low as $18.01 and last traded at $18.35. 76,483 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 172,664 shares. The stock had previously closed at $19.69.

Analysts Set New Price Targets

Several research firms have commented on NVCT. Roth Capital lifted their target price 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. Cantor Fitzgerald initiated coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They set an "overweight" rating on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $39.00 target price on shares of Nuvectis Pharma in a research report on Thursday, September 24th. Weiss Ratings upgraded Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 21st. Finally, UBS Group set a $33.00 target price on Nuvectis Pharma in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Nuvectis Pharma presently has an average rating of "Moderate Buy" and an average price target of $36.25.

Nuvectis Pharma Trading Down 6.4%

The business's 50-day simple moving average is $21.79 and its two-hundred day simple moving average is $16.24. The company has a market capitalization of $601.40 million, a PE ratio of -14.07 and a beta of -0.24.

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

Institutional Inflows and Outflows

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

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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