Insider Selling: NovoCure (NASDAQ:NVCR) Chairman Sells 71,887 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) Chairman William Doyle sold 71,887 shares of NovoCure stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $12.98, for a total transaction of $933,093.26. Following the transaction, the chairman directly owned 328,397 shares in the company, valued at approximately $4,262,593.06. This represents a 17.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NovoCure Stock Up 6.0%

Shares of NovoCure stock traded up $0.81 on Thursday, hitting $14.23. The company had a trading volume of 2,315,394 shares, compared to its average volume of 2,231,897. The firm has a market capitalization of $1.62 billion, a P/E ratio of -11.66 and a beta of 0.71. 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 Limited has a twelve month low of $9.82 and a twelve month high of $21.55. The stock has a 50-day moving average of $12.73 and a 200-day moving average of $12.70.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. The company had revenue of $174.35 million for the quarter, compared to the consensus estimate of $174.40 million. During the same period last year, the company earned ($0.61) earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Evercore set a $20.00 price objective on shares of NovoCure in a research report on Monday, January 5th. HC Wainwright increased their price objective on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wedbush restated a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a report on Thursday, January 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NovoCure has an average rating of “Hold” and an average target price of $26.93.

Institutional Trading of NovoCure

Several hedge funds and other institutional investors have recently bought and sold shares of NVCR. Quantbot Technologies LP increased its stake in shares of NovoCure by 163.6% in the 3rd quarter. Quantbot Technologies LP now owns 195,515 shares of the medical equipment provider’s stock worth $2,526,000 after acquiring an additional 121,354 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of NovoCure by 1,354.7% in the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock worth $18,332,000 after buying an additional 959,079 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in NovoCure during the third quarter valued at $1,085,000. C WorldWide Group Holding A S boosted its position in shares of NovoCure by 56.3% in the third quarter. C WorldWide Group Holding A S now owns 971,784 shares of the medical equipment provider’s stock worth $12,555,000 after purchasing an additional 350,000 shares during the period. Finally, Jump Financial LLC bought a new position in shares of NovoCure in the second quarter worth about $6,268,000. 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.