Emerald Mutual Fund Advisers Trust Sells 200,411 Shares of NovoCure Limited $NVCR

Emerald Mutual Fund Advisers Trust trimmed its position in shares of NovoCure Limited (NASDAQ:NVCR) by 91.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,173 shares of the medical equipment provider’s stock after selling 200,411 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in NovoCure were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its position in NovoCure by 6.5% in the second quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 1,400 shares during the period. Washington Capital Management Inc. acquired a new position in shares of NovoCure in the 2nd quarter valued at $374,000. American Century Companies Inc. raised its stake 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 valued at $18,332,000 after buying an additional 959,079 shares in the last quarter. Jump Financial LLC bought a new position in shares of NovoCure during the 2nd quarter worth about $6,268,000. Finally, Edgestream Partners L.P. boosted its position in shares of NovoCure by 30.0% during the 2nd quarter. Edgestream Partners L.P. now owns 208,329 shares of the medical equipment provider’s stock valued at $3,708,000 after acquiring an additional 48,057 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HC Wainwright lowered their target price on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. JPMorgan Chase & Co. decreased their price objective on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Wedbush reiterated a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research note on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Thursday. Finally, Evercore ISI set a $20.00 price target on NovoCure in a research note on Monday, January 5th. Three 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.50.

NovoCure Price Performance

Shares of NovoCure stock opened at $13.45 on Friday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -8.35 and a beta of 0.73. The firm’s 50-day moving average price is $12.98 and its two-hundred day moving average price is $13.05. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. NovoCure Limited has a 1-year low of $10.70 and a 1-year high of $27.11.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $167.20 million during the quarter, compared to analysts’ expectations of $158.81 million. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. NovoCure’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.28) earnings per share. On average, equities analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal 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.