Nuvectis Pharma (NASDAQ:NVCT) Shares Gap Down After Earnings Miss

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $21.60, but opened at $19.26. Nuvectis Pharma shares last traded at $20.0850, with a volume of 234,790 shares changing hands.

The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05).

Analyst Ratings Changes

NVCT has been the subject of several research reports. Wall Street Zen raised Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvectis Pharma in a research report on Friday, June 5th. Roth Capital upped their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a report on Monday, July 6th. HC Wainwright increased their price target on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, UBS Group set a $33.00 price target on Nuvectis Pharma in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.00.

Insider Buying and Selling

In related news, CEO Ron Bentsur bought 12,500 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $20.00 per share, with a total value of $250,000.00. Following the purchase, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at approximately $73,768,480. This represents a 0.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Marlio Charles Mosseri bought 50,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $18.32 per share, with a total value of $916,000.00. Following the purchase, the insider directly owned 3,186,576 shares in the company, valued at approximately $58,378,072.32. This trade represents a 1.59% 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 Trading of Nuvectis Pharma

A number of institutional investors have recently bought and sold shares of NVCT. Bank of America Corp DE grew its stake in shares of Nuvectis Pharma by 10.2% in the 1st quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock valued at $115,000 after buying an additional 1,377 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Nuvectis Pharma by 6.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock valued at $555,000 after acquiring an additional 4,500 shares in the last quarter. Barclays PLC lifted its stake in Nuvectis Pharma by 31.3% in the fourth quarter. Barclays PLC now owns 24,185 shares of the company’s stock valued at $183,000 after acquiring an additional 5,760 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Nuvectis Pharma by 15.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock valued at $332,000 after acquiring an additional 6,040 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Nuvectis Pharma by 3,398.9% in the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock worth $47,000 after acquiring an additional 6,084 shares in the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Stock Down 6.4%

The company’s 50-day simple moving average is $16.64 and its 200 day simple moving average is $11.62. The company has a market capitalization of $536.09 million, a P/E ratio of -15.43 and a beta of -0.26.

Nuvectis Pharma Company Profile

Nuvectis Pharma is a clinical-stage biotechnology company focused on the development of novel peptide-based therapeutics using its proprietary Cellporting delivery platform. The company’s core technology is designed to facilitate the transport of therapeutic proteins and peptides across cellular membranes and into target intracellular compartments, including the nucleus. By overcoming a key barrier in biologics delivery, Nuvectis aims to expand the range of treatable diseases with macromolecular drugs that have traditionally been limited by poor cellular uptake.

The Nuvectis pipeline encompasses multiple preclinical and early-stage clinical programs targeting rare genetic and metabolic disorders.