Nuvectis Pharma (NASDAQ:NVCT) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research note issued on Monday, MarketBeat.com reports. The firm set an “overweight” rating on the stock.

Several other research firms also recently commented on NVCT. Weiss Ratings raised shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Capital raised their target price on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 6th. HC Wainwright lifted their price target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, UBS Group set a $33.00 price target on shares of Nuvectis Pharma in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nuvectis Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Nuvectis Pharma Stock Performance

NASDAQ:NVCT opened at $23.56 on Monday. The stock has a 50-day moving average price of $19.53 and a 200 day moving average price of $12.78. The stock has a market capitalization of $767.58 million, a P/E ratio of -17.98 and a beta of -0.26. Nuvectis Pharma has a 12-month low of $5.55 and a 12-month high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT) last posted 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, research analysts predict that Nuvectis Pharma will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Nuvectis Pharma

In other news, CEO Ron Bentsur acquired 12,500 shares of the firm’s stock in a transaction dated 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 directly owned 3,688,424 shares of the company’s stock, valued at approximately $73,768,480. The trade was a 0.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Marlio Charles Mosseri bought 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $18.32 per share, with a total value of $916,000.00. Following the completion of the transaction, the insider directly owned 3,186,576 shares in the company, valued at approximately $58,378,072.32. The trade was a 1.59% increase in their position. The disclosure for this purchase is available in the SEC filing. 28.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in shares of Nuvectis Pharma by 376.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,991 shares of the company’s stock worth $73,000 after buying an additional 3,154 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Nuvectis Pharma in the 2nd quarter worth about $5,057,000. Stonepine Capital Management LLC purchased a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at about $735,600,000. Bank of America Corp DE purchased a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at about $218,000. Finally, Legal & General Group Plc bought a new position in shares of Nuvectis Pharma in the 2nd quarter valued at about $31,000. Institutional investors own 96.77% of the company’s stock.

About Nuvectis Pharma

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.