NovoCure Limited (NASDAQ:NVCR) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lowered its position in shares of NovoCure Limited (NASDAQ:NVCR) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,028 shares of the medical equipment provider’s stock after selling 4,089 shares during the period. Summit Trail Advisors LLC’s holdings in NovoCure were worth $448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NVCR. Brooklyn Investment Group purchased a new position in NovoCure during the 3rd quarter worth approximately $45,000. Blue Trust Inc. boosted its holdings in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 781 shares during the period. Venturi Wealth Management LLC grew its position in shares of NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NovoCure by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 701 shares during the period. Finally, Versant Capital Management Inc raised its position in NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 880 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Stock Down 2.0 %

Shares of NASDAQ:NVCR opened at $21.21 on Wednesday. NovoCure Limited has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm’s 50-day simple moving average is $28.06 and its 200-day simple moving average is $21.32. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -15.15 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wedbush reissued a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research report on Monday, January 13th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. Piper Sandler boosted their price target on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.