Michal Nath Puri Sells 1,100 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) insider Michal Nath Puri sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $14,641.00. Following the transaction, the insider owned 201,322 shares of the company’s stock, valued at $2,679,595.82. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NovoCure Stock Up 6.0%

Shares of NVCR traded up $0.81 during midday trading on Thursday, reaching $14.23. The stock had a trading volume of 2,315,394 shares, compared to its average volume of 2,231,897. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -11.66 and a beta of 0.71. The company’s fifty day simple moving average is $12.73 and its two-hundred day simple moving average is $12.70. NovoCure Limited has a 1-year low of $9.82 and a 1-year high of $21.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 1.50.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.19. The firm had revenue of $174.35 million for 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%.NovoCure’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.61) earnings per share. Equities research analysts expect that NovoCure Limited will post -1.3 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

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

Wall Street Analyst Weigh In

NVCR has been the subject of a number of research analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a report on Thursday, January 15th. HC Wainwright boosted their price objective 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. Evercore set a $20.00 target price on shares of NovoCure in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Three 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. Based on data from MarketBeat.com, NovoCure has an average rating of “Hold” and an average price target of $26.93.

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.