NovoCure (NASDAQ:NVCR) CEO Sells $74,629.17 in Stock

NovoCure Limited (NASDAQ:NVCR) CEO Frank Leonard sold 5,607 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total value of $74,629.17. Following the completion of the sale, the chief executive officer directly owned 493,793 shares in the company, valued at $6,572,384.83. This represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NovoCure Stock Up 6.0%

Shares of NovoCure stock traded up $0.81 on Thursday, reaching $14.23. 2,315,394 shares of the company were exchanged, compared to its average volume of 2,231,897. The stock’s 50 day moving average price is $12.73 and its 200-day moving average price is $12.70. The company has a market cap of $1.62 billion, a P/E ratio of -11.66 and a beta of 0.71. NovoCure Limited has a 1-year low of $9.82 and a 1-year high of $21.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 1.50.

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

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently bought and sold shares of NVCR. Quantbot Technologies LP boosted its stake in NovoCure by 163.6% in the 3rd quarter. Quantbot Technologies LP now owns 195,515 shares of the medical equipment provider’s stock valued at $2,526,000 after purchasing an additional 121,354 shares during the period. American Century Companies Inc. lifted its holdings in shares of NovoCure by 1,354.7% during the second 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 in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of NovoCure in the third quarter valued at about $1,085,000. C WorldWide Group Holding A S increased its position in NovoCure by 56.3% during the third quarter. C WorldWide Group Holding A S now owns 971,784 shares of the medical equipment provider’s stock worth $12,555,000 after acquiring an additional 350,000 shares during the period. Finally, Jump Financial LLC acquired a new stake in NovoCure in the 2nd quarter worth about $6,268,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.