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

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

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $16.15 on Thursday. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $19.25. The firm has a fifty day simple moving average of $14.16 and a 200 day simple moving average of $13.14. The company has a market capitalization of $1.87 billion, a PE ratio of -10.56 and a beta of 0.93. 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 announced its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate of $167.77 million. During the same period in the prior year, the business earned ($0.31) EPS. NovoCure’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that NovoCure Limited will post -1.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVCR. Empowered Funds LLC purchased a new position in NovoCure during the fourth quarter worth about $33,000. Kestra Advisory Services LLC purchased a new position in NovoCure during the fourth quarter worth about $49,000. Larson Financial Group LLC boosted its holdings in NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 3,562 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NovoCure by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 1,120 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in NovoCure during the first quarter worth about $87,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.