Nuvectis Pharma (NASDAQ:NVCT) Reaches New 12-Month High – Here’s What Happened

Nuvectis Pharma, Inc. (NASDAQ:NVCT)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.67 and last traded at $19.9390, with a volume of 102743 shares traded. The stock had previously closed at $17.55.

Analysts Set New Price Targets

A number of brokerages recently commented on NVCT. Wall Street Zen raised shares of 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 report on Friday, June 5th. Finally, HC Wainwright increased their price target on shares of Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nuvectis Pharma presently has a consensus rating of “Hold” and a consensus target price of $39.00.

Nuvectis Pharma Price Performance

The firm has a market cap of $538.82 million, a price-to-earnings ratio of -15.50 and a beta of -0.07. The business’s 50-day moving average price is $10.38 and its two-hundred day moving average price is $9.01.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results 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 forecast that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Hedge Funds Weigh In On Nuvectis Pharma

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Nuvectis Pharma by 10.2% in the 1st quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock worth $115,000 after buying an additional 1,377 shares during the last quarter. Occam Crest Management LP increased its stake in shares of Nuvectis Pharma by 31.0% during the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after acquiring an additional 90,000 shares during the last quarter. Barclays PLC lifted its holdings in shares of Nuvectis Pharma by 31.3% during the 4th quarter. Barclays PLC now owns 24,185 shares of the company’s stock worth $183,000 after acquiring an additional 5,760 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Nuvectis Pharma by 15.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock worth $332,000 after acquiring an additional 6,040 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Nuvectis Pharma by 13.1% in the fourth quarter. State Street Corp now owns 154,666 shares of the company’s stock worth $1,168,000 after acquiring an additional 17,950 shares during the last quarter. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

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.