Nuvectis Pharma (NASDAQ:NVCT) Posts Earnings Results, Beats Expectations By $0.04 EPS

Nuvectis Pharma (NASDAQ:NVCT) announced its earnings results on Tuesday. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04, FiscalAI reports.

Nuvectis Pharma Stock Up 2.0%

Shares of NVCT stock traded up $0.19 during trading hours on Wednesday, reaching $9.90. The company’s stock had a trading volume of 64,131 shares, compared to its average volume of 61,855. The firm’s 50 day simple moving average is $8.50 and its 200-day simple moving average is $7.78. The company has a market capitalization of $273.93 million, a price-to-earnings ratio of -7.50 and a beta of -0.11. Nuvectis Pharma has a fifty-two week low of $5.55 and a fifty-two week high of $11.15.

Institutional Investors Weigh In On Nuvectis Pharma

Several hedge funds have recently modified their holdings of NVCT. JPMorgan Chase & Co. raised its position in shares of Nuvectis Pharma by 3,398.9% in the 2nd 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Nuvectis Pharma during the 2nd quarter worth approximately $53,000. Bank of America Corp DE increased its holdings 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 worth $64,000 after purchasing an additional 6,909 shares in the last quarter. Deutsche Bank AG increased its holdings in Nuvectis Pharma by 3,671.4% during the 4th quarter. Deutsche Bank AG now owns 12,672 shares of the company’s stock worth $96,000 after purchasing an additional 12,336 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Nuvectis Pharma during the 2nd quarter worth approximately $97,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuvectis Pharma in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nuvectis Pharma presently has a consensus rating of “Hold” and an average target price of $10.00.

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.