109,812 Shares in NovoCure Limited (NASDAQ:NVCR) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 109,812 shares of the medical equipment provider’s stock, valued at approximately $3,272,000. Cinctive Capital Management LP owned about 0.10% of NovoCure at the end of the most recent quarter.

Several other large investors have also modified their holdings of NVCR. Lindbrook Capital LLC raised its position in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. raised 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 buying an additional 781 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of NovoCure during the fourth quarter worth about $70,000. Versant Capital Management Inc grew its holdings in shares of NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after buying an additional 880 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after acquiring an additional 1,575 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Performance

NASDAQ:NVCR opened at $17.94 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure Limited has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The firm’s fifty day simple moving average is $21.19 and its 200-day simple moving average is $21.65. The stock has a market cap of $1.97 billion, a PE ratio of -12.81 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The company had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. Analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVCR. StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Wedbush reissued a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler lifted their target price on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.80.

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.