Tudor Investment Corp ET AL Purchases 354,216 Shares of NovoCure Limited $NVCR

Tudor Investment Corp ET AL lifted its holdings in NovoCure Limited (NASDAQ:NVCR) by 140.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 606,070 shares of the medical equipment provider’s stock after purchasing an additional 354,216 shares during the quarter. Tudor Investment Corp ET AL owned 0.54% of NovoCure worth $7,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Soleus Capital Management L.P. raised its stake in NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after purchasing an additional 1,382,888 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of NovoCure by 1,354.7% in the 2nd 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. Millennium Management LLC increased its holdings in shares of NovoCure by 106.5% in the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock worth $17,255,000 after buying an additional 688,710 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of 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 valued at $40,407,000 after buying an additional 634,925 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of NovoCure by 2,063.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 565,763 shares of the medical equipment provider’s stock valued at $7,310,000 after buying an additional 539,609 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NovoCure

In other NovoCure news, COO Mukund Paravasthu sold 43,246 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $13.77, for a total value of $595,497.42. Following the completion of the sale, the chief operating officer directly owned 72,832 shares of the company’s stock, valued at $1,002,896.64. The trade was a 37.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William F. Doyle sold 71,887 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.98, for a total transaction of $933,093.26. Following the completion of the transaction, the chairman owned 328,397 shares in the company, valued at $4,262,593.06. This represents a 17.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,041 shares of company stock worth $1,860,116 over the last ninety days. 5.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Evercore set a $20.00 price objective on NovoCure in a research report on Monday, January 5th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research note on Thursday, January 15th. Finally, HC Wainwright lifted their target price on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Three equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.93.

NovoCure Stock Performance

Shares of NovoCure stock opened at $11.82 on Tuesday. The company has a quick ratio of 2.71, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $12.41 and its two-hundred day moving average is $12.74. NovoCure Limited has a 52 week low of $9.82 and a 52 week high of $20.06. The company has a market capitalization of $1.35 billion, a PE ratio of -9.69 and a beta of 0.71.

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

NovoCure 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.