Allyson Ocean Sells 2,945 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) Director Allyson Ocean sold 2,945 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director directly owned 11,324 shares of the company’s stock, valued at $178,579.48. The trade was a 20.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Stock Performance

NVCR stock opened at $17.99 on Friday. The company has a market capitalization of $2.08 billion, a P/E ratio of -11.76 and a beta of 0.93. The company has a 50-day simple moving average of $14.29 and a 200 day simple moving average of $13.19. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $19.25. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company 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 earned ($0.31) EPS. Sell-side analysts predict that NovoCure Limited will post -1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in NovoCure by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after buying an additional 502,368 shares during the period. Soleus Capital Management L.P. raised its holdings in NovoCure by 25.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after buying an additional 1,382,888 shares during the period. Morgan Stanley raised its holdings in NovoCure by 453.4% during the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after buying an additional 4,153,741 shares during the period. Quantinno Capital Management LP raised its holdings in NovoCure by 23.7% during the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after buying an additional 477,128 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in 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 worth $40,407,000 after buying an additional 634,925 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.