Nuvectis Pharma (NASDAQ:NVCT) CEO Ron Bentsur Purchases 12,500 Shares

Nuvectis Pharma, Inc. (NASDAQ:NVCT) CEO Ron Bentsur bought 12,500 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $20.00 per share, with a total value of $250,000.00. Following the purchase, the chief executive officer owned 3,688,424 shares in the company, valued at $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nuvectis Pharma Stock Performance

Shares of NASDAQ NVCT traded up $0.77 during mid-day trading on Wednesday, hitting $19.16. 753,700 shares of the stock traded hands, compared to its average volume of 139,201. The company has a market cap of $508.21 million, a price-to-earnings ratio of -14.57 and a beta of -0.07. The stock has a fifty day moving average price of $12.05 and a 200-day moving average price of $9.66. Nuvectis Pharma, Inc. has a 52 week low of $5.55 and a 52 week high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. As a group, sell-side analysts predict that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVCT. HC Wainwright increased their price target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Wall Street Zen upgraded shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.00.

Institutional Investors Weigh In On Nuvectis Pharma

A number of institutional investors have recently made changes to their positions in NVCT. JPMorgan Chase & Co. increased its position in shares of Nuvectis Pharma by 3,398.9% during the second quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company’s stock valued at $47,000 after acquiring an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Nuvectis Pharma in the 2nd quarter valued at approximately $53,000. Bank of America Corp DE boosted its stake in Nuvectis Pharma by 417.2% during the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company’s stock valued at $64,000 after purchasing an additional 6,909 shares during the last quarter. Deutsche Bank AG boosted its stake in Nuvectis Pharma by 3,671.4% during the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock valued at $96,000 after purchasing an additional 12,336 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Nuvectis Pharma in the 2nd quarter worth $97,000. Hedge funds and other 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.