Insider Selling: NovoCure (NASDAQ:NVCR) CFO Sells 6,412 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) CFO Christoph Brackmann sold 6,412 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $85,343.72. Following the transaction, the chief financial officer directly owned 182,842 shares in the company, valued at approximately $2,433,627.02. The trade was a 3.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NovoCure Stock Performance

Shares of NVCR stock traded up $0.81 during trading hours on Thursday, reaching $14.23. 2,315,394 shares of the company’s stock were exchanged, compared to its average volume of 2,231,897. The stock 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 quick ratio of 1.50, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $21.55. The business has a fifty day moving average price of $12.73 and a 200-day moving average price of $12.70.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $174.35 million during the quarter, compared to analyst estimates of $174.40 million. During the same quarter in the prior year, the business posted ($0.61) earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts predict that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Morgan Stanley increased its position in shares of NovoCure by 453.4% during the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock valued at $65,554,000 after acquiring an additional 4,153,741 shares during the last quarter. Soleus Capital Management L.P. increased its holdings in shares of NovoCure by 25.0% in 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 last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of NovoCure by 1,093.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider’s stock valued at $15,823,000 after purchasing an additional 1,121,192 shares in the last quarter. American Century Companies Inc. boosted its position in NovoCure by 1,354.7% during 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in NovoCure during the 4th quarter valued at $11,991,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.