Insider Selling: NovoCure (NASDAQ:NVCR) COO Sells 43,246 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) COO Mukund Paravasthu sold 43,246 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.77, for a total value of $595,497.42. Following the completion of the transaction, the chief operating officer directly owned 72,832 shares of the company’s stock, valued at approximately $1,002,896.64. The trade was a 37.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mukund Paravasthu also recently made the following trade(s):

• On Wednesday, March 4th, Mukund Paravasthu sold 5,377 shares of NovoCure stock. The stock was sold at an average price of $13.31, for a total value of $71,567.87.

NovoCure Trading Up 6.0%

Shares of NovoCure stock traded up $0.81 on Thursday, hitting $14.23. The stock had a trading volume of 2,315,394 shares, compared to its average volume of 2,231,897. The stock has a 50 day moving average of $12.73 and a 200 day moving average of $12.70. The firm has a market capitalization of $1.62 billion, a P/E ratio of -11.66 and a beta of 0.71. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $21.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.50 and a current ratio of 2.90.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.19. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. The firm had revenue of $174.35 million for the quarter, compared to analyst estimates of $174.40 million. During the same period in the previous year, the firm posted ($0.61) EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NVCR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Evercore set a $20.00 price target on NovoCure in a research note on Monday, January 5th. HC Wainwright raised their price objective on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a report on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.93.

Institutional Investors Weigh In On NovoCure

A number of hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in shares of NovoCure during the 4th quarter worth approximately $33,000. SJS Investment Consulting Inc. acquired a new position in shares of NovoCure during the 3rd quarter valued at $41,000. Kestra Advisory Services LLC acquired a new position in shares of NovoCure during the 4th quarter valued at $49,000. Larson Financial Group LLC boosted its stake in NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after acquiring an additional 3,562 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 1,120 shares during the period. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

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.