NovoCure (NASDAQ:NVCR) Director Gabriel Leung Sells 2,945 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) Director Gabriel Leung sold 2,945 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the sale, the director directly owned 20,465 shares in the company, valued at $322,733.05. The trade was a 12.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $16.15 on Thursday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -10.56 and a beta of 0.93. NovoCure Limited has a 12 month low of $9.82 and a 12 month high of $19.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. The firm’s 50 day simple moving average is $14.16 and its 200-day simple moving average is $13.14.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The business had revenue of $174.06 million during the quarter, compared to analyst estimates of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. Analysts expect that NovoCure Limited will post -1.55 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wells Fargo & Company upped their price target on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. HC Wainwright upped their price target on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Finally, Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a report on Thursday, April 16th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi lifted its holdings in NovoCure by 19.9% in the 1st quarter. Amundi now owns 47,583 shares of the medical equipment provider’s stock valued at $519,000 after purchasing an additional 7,907 shares in the last quarter. California State Teachers Retirement System lifted its holdings in NovoCure by 43.6% in the 1st quarter. California State Teachers Retirement System now owns 142,561 shares of the medical equipment provider’s stock valued at $1,554,000 after purchasing an additional 43,257 shares in the last quarter. Eversept Partners LP lifted its holdings in NovoCure by 11.5% in the 1st quarter. Eversept Partners LP now owns 134,917 shares of the medical equipment provider’s stock valued at $1,471,000 after purchasing an additional 13,939 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in NovoCure by 23.7% in the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock valued at $27,112,000 after purchasing an additional 477,128 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in NovoCure by 11.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,551,554 shares of the medical equipment provider’s stock valued at $16,912,000 after purchasing an additional 163,800 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.