Nuvectis Pharma, Inc. (NASDAQ:NVCT) experienced a modest increase of 0.5% in its stock price on Friday, reaching a high of $7.91 before closing at $7.75. During the trading session, approximately 22,642 shares changed hands, a significant decline of 76% from the average daily volume of 93,148 shares. The stock had previously closed at $7.71.
Analyst Insights and Stock Ratings
Recent commentary from multiple research firms has provided insights into the future potential of Nuvectis Pharma. On December 3, 2023, HC Wainwright reaffirmed its “buy” rating for the company’s shares. Conversely, Weiss Ratings issued a “sell (e+)” rating on October 8, 2023. Currently, three equities research analysts have rated Nuvectis Pharma as a Buy, while one has assigned a Sell rating. According to data from MarketBeat.com, the stock holds an average rating of “Moderate Buy” and a consensus price target of $15.33.
Nuvectis Pharma boasts a market capitalization of $198.48 million, with a P/E ratio of -5.66 and a beta of -0.27. Its fifty-day moving average is $6.59, while the 200-day moving average stands at $6.84. The company reported earnings on November 4, 2023, revealing an earnings per share (EPS) of ($0.44), which fell short of the consensus estimate of ($0.24) by $0.20. Analysts project that Nuvectis Pharma will post an EPS of ($1.01) for the current fiscal year.
Insider Transactions and Institutional Investments
In notable insider activity, Director Juan Sanchez acquired 13,000 shares of the company on November 5, 2023, at an average price of $5.79 per share, totaling $75,270. This purchase increased Sanchez’s ownership to 78,150 shares, valued at approximately $452,488.50. The acquisition was disclosed in a filing with the Securities and Exchange Commission (SEC).
Another significant insider, major shareholder Marlio Charles Mosseri, purchased 72,836 shares on October 27, 2023, at an average price of $6.28 per share, for a total of $457,410.08. Following this transaction, Mosseri’s total ownership rose to 3,136,576 shares, valued at around $19,697,697.28. Over the past three months, insiders have collectively purchased 183,770 shares worth $1,125,193. Insiders currently hold 30.52% of the company’s stock.
Changes among institutional investors have also been notable. The Police & Firemen’s Retirement System of New Jersey acquired a new stake in Nuvectis Pharma during the second quarter, valued at about $28,000. JPMorgan Chase & Co. significantly increased its holdings by 3,398.9% during the same period, now owning 6,263 shares valued at $47,000. Other institutional investments include a new acquisition by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., worth $53,000, and an increase by Bank of America Corp DE, which raised its position by 417.2% to own 8,565 shares valued at $64,000. Currently, institutional investors own 96.77% of Nuvectis Pharma’s stock.
Nuvectis Pharma is a clinical-stage biotechnology company dedicated to developing novel peptide-based therapeutics through its proprietary Cellporting delivery platform. This technology aims to enhance the transport of therapeutic proteins and peptides across cellular membranes, targeting intracellular compartments such as the nucleus. By overcoming significant barriers in drug delivery, Nuvectis seeks to expand the range of treatable diseases with macromolecular drugs that have historically faced limitations due to poor cellular uptake. The company’s pipeline includes several preclinical and early-stage clinical programs focused on rare genetic and metabolic disorders.
