Trexquant Investment LP Has $3.38 Million Stake in NovoCure Limited (NASDAQ:NVCR)

Trexquant Investment LP lifted its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 240.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,320 shares of the medical equipment provider’s stock after purchasing an additional 159,755 shares during the quarter. Trexquant Investment LP owned 0.21% of NovoCure worth $3,379,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVCR. Canada Pension Plan Investment Board bought a new position in NovoCure in the third quarter valued at approximately $74,000. Acadian Asset Management LLC acquired a new position in NovoCure in the 3rd quarter worth $85,000. PNC Financial Services Group Inc. increased its holdings in NovoCure by 36.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,522 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 1,461 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of NovoCure by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,363 shares of the medical equipment provider’s stock valued at $185,000 after purchasing an additional 9,624 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of NovoCure during the fourth quarter worth about $195,000. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NVCR shares. HC Wainwright cut their target price on NovoCure from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company decreased their target price on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and set a $28.00 price target (up from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Finally, Evercore ISI increased their price target on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Insider Activity at NovoCure

In other news, EVP Frank X. Leonard sold 2,078 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the sale, the executive vice president now owns 162,617 shares in the company, valued at $2,624,638.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Frank X. Leonard sold 2,078 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the sale, the executive vice president now owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $33,775.21. Following the completion of the transaction, the chief operating officer now owns 252,452 shares in the company, valued at $4,046,805.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,921 shares of company stock worth $127,161. Insiders own 6.29% of the company’s stock.

NovoCure Stock Performance

NVCR opened at $22.31 on Friday. The company has a quick ratio of 5.99, a current ratio of 6.26 and a debt-to-equity ratio of 1.59. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $82.64. The business has a 50 day moving average of $15.26 and a 200-day moving average of $14.43. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -12.33 and a beta of 0.50.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. The firm had revenue of $138.50 million during the quarter, compared to analysts’ expectations of $131.44 million. NovoCure had a negative net margin of 36.67% and a negative return on equity of 50.35%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.50) earnings per share. On average, equities research analysts expect that NovoCure Limited will post -1.64 earnings per share for the current year.

NovoCure Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.