Mukund Paravasthu Sells 5,377 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) COO Mukund Paravasthu sold 5,377 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $71,567.87. Following the completion of the sale, the chief operating officer directly owned 116,078 shares in the company, valued at $1,544,998.18. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 5th, Mukund Paravasthu sold 43,246 shares of NovoCure stock. The stock was sold at an average price of $13.77, for a total transaction of $595,497.42.

NovoCure Stock Up 6.0%

NovoCure stock traded up $0.81 during midday trading 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 business has a fifty day moving average price of $12.73 and a 200 day moving average price of $12.70. NovoCure Limited has a 12 month low of $9.82 and a 12 month high of $21.55. The stock has a market cap of $1.62 billion, a P/E ratio of -11.66 and a beta of 0.71. The company has a current ratio of 2.90, a quick ratio of 1.50 and a debt-to-equity ratio of 0.70.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. The company had revenue of $174.35 million during the quarter, compared to analyst estimates 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 was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.61) EPS. Research analysts predict that NovoCure Limited will post -1.3 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On NovoCure

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of NovoCure by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock valued at $141,690,000 after purchasing an additional 502,368 shares in the last quarter. Soleus Capital Management L.P. lifted its stake in NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after purchasing an additional 1,382,888 shares during the last quarter. Morgan Stanley increased its holdings in shares of NovoCure by 453.4% in the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock valued at $65,554,000 after buying an additional 4,153,741 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of NovoCure by 38.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after acquiring an additional 634,925 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of NovoCure by 29.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,387,754 shares of the medical equipment provider’s stock worth $17,944,000 after acquiring an additional 314,900 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.