Uri Weinberg Sells 6,412 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) insider Uri Weinberg sold 6,412 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total value of $85,343.72. Following the transaction, the insider directly owned 267,190 shares in the company, valued at $3,556,298.90. This represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NovoCure Price Performance

NVCR stock traded up $0.81 during midday trading on Thursday, hitting $14.23. 2,315,394 shares of the stock were exchanged, compared to its average volume of 2,231,897. The stock’s 50-day moving average price is $12.73 and its 200-day moving average price is $12.70. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.50 and a current ratio of 2.90. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -11.66 and a beta of 0.71. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $21.55.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. The business had revenue of $174.35 million during the quarter, compared to analysts’ expectations of $174.40 million. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.61) earnings per share. Research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVCR. HC Wainwright increased their price objective on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Evercore set a $20.00 price objective on shares of NovoCure in a research report on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Finally, Wedbush reissued a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.93.

Institutional Trading of NovoCure

A number of institutional investors have recently modified their holdings of NVCR. Arizona State Retirement System increased its position in NovoCure by 3.0% during the 3rd quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock worth $405,000 after purchasing an additional 916 shares in the last quarter. Larson Financial Group LLC grew its stake in NovoCure by 25.2% during the fourth quarter. Larson Financial Group LLC now owns 5,133 shares of the medical equipment provider’s stock worth $66,000 after buying an additional 1,033 shares during the period. Alliancebernstein L.P. raised its stake in shares of NovoCure by 0.8% in the 3rd quarter. Alliancebernstein L.P. now owns 137,106 shares of the medical equipment provider’s stock valued at $1,771,000 after acquiring an additional 1,076 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NovoCure by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after acquiring an additional 1,120 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of NovoCure by 14.9% during the 4th quarter. Royal Bank of Canada now owns 12,830 shares of the medical equipment provider’s stock valued at $166,000 after acquiring an additional 1,667 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.