Riverhead Capital Management LLC Has $157,000 Holdings in NovoCure Limited (NVCR)
Riverhead Capital Management LLC held its position in NovoCure Limited (NASDAQ:NVCR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,053 shares of the medical equipment provider’s stock at the close of the 2nd quarter. Riverhead Capital Management LLC’s holdings in NovoCure Limited were worth $157,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in NovoCure Limited by 8.5% in the second quarter. Legal & General Group Plc now owns 13,866 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 1,092 shares during the period. American International Group Inc. grew its stake in shares of NovoCure Limited by 7.1% during the 1st quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock worth $253,000 after purchasing an additional 2,065 shares during the period. Bank of New York Mellon Corp grew its stake in shares of NovoCure Limited by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 173,523 shares of the medical equipment provider’s stock worth $1,406,000 after purchasing an additional 2,480 shares during the period. Teachers Advisors LLC grew its stake in shares of NovoCure Limited by 3.3% during the 1st quarter. Teachers Advisors LLC now owns 98,799 shares of the medical equipment provider’s stock worth $800,000 after purchasing an additional 3,125 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in shares of NovoCure Limited by 792.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock worth $125,000 after purchasing an additional 6,419 shares during the period. 36.84% of the stock is owned by institutional investors.
Shares of NovoCure Limited (NASDAQ NVCR) opened at 19.15 on Tuesday. NovoCure Limited has a 12-month low of $5.95 and a 12-month high of $22.30. The firm’s market cap is $1.70 billion. The firm has a 50-day moving average price of $20.23 and a 200 day moving average price of $15.61.
NovoCure Limited (NASDAQ:NVCR) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). The firm had revenue of $38.38 million for the quarter, compared to the consensus estimate of $42.20 million. NovoCure Limited had a negative return on equity of 69.48% and a negative net margin of 75.91%. On average, equities research analysts anticipate that NovoCure Limited will post ($0.77) earnings per share for the current fiscal year.
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A number of equities analysts have recently issued reports on NVCR shares. Zacks Investment Research downgraded shares of NovoCure Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut shares of NovoCure Limited from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reissued a “hold” rating and set a $19.00 price objective (up previously from $18.00) on shares of NovoCure Limited in a report on Monday, July 17th. Finally, Mizuho started coverage on shares of NovoCure Limited in a report on Wednesday, September 6th. They set a “buy” rating and a $25.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. NovoCure Limited has a consensus rating of “Buy” and an average target price of $20.00.
In other news, CEO Asaf Danziger sold 155,088 shares of NovoCure Limited stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $18.14, for a total transaction of $2,813,296.32. Following the transaction, the chief executive officer now directly owns 899,462 shares in the company, valued at approximately $16,316,240.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 670,640 shares of company stock valued at $12,444,714. 16.70% of the stock is currently owned by corporate insiders.
NovoCure Limited Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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