Tudor Investment Corp ET AL Purchases 354,216 Shares of NovoCure Limited $NVCR

Tudor Investment Corp ET AL grew its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 140.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 606,070 shares of the medical equipment provider’s stock after acquiring an additional 354,216 shares during the period. Tudor Investment Corp ET AL’s holdings in NovoCure were worth $7,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NVCR. Soleus Capital Management L.P. raised its stake in shares of NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after acquiring an additional 1,382,888 shares in the last quarter. Millennium Management LLC raised its stake in shares of NovoCure by 106.5% during the third quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after acquiring an additional 688,710 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of NovoCure by 38.8% during the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after acquiring an additional 634,925 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NovoCure by 2,063.2% during the third quarter. Dimensional Fund Advisors LP now owns 565,763 shares of the medical equipment provider’s stock valued at $7,310,000 after acquiring an additional 539,609 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of NovoCure by 372.2% during the third quarter. Algert Global LLC now owns 682,858 shares of the medical equipment provider’s stock valued at $8,823,000 after acquiring an additional 538,235 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NVCR stock opened at $10.55 on Tuesday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -8.65 and a beta of 0.82. The company’s 50 day moving average is $11.88 and its 200 day moving average is $12.63. The company has a quick ratio of 2.71, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. NovoCure Limited has a 52-week low of $9.82 and a 52-week high of $20.06.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.19. The company had revenue of $174.35 million for the quarter, compared to analyst estimates of $174.40 million. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. NovoCure’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted ($0.61) earnings per share. On average, sell-side analysts anticipate that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other NovoCure news, CEO Frank X. Leonard sold 5,607 shares of NovoCure stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total value of $74,629.17. Following the transaction, the chief executive officer directly owned 493,793 shares of the company’s stock, valued at approximately $6,572,384.83. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christoph Brackmann sold 6,412 shares of NovoCure stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the transaction, the chief financial officer directly owned 182,842 shares in the company, valued at $2,433,627.02. This represents a 3.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 140,041 shares of company stock valued at $1,860,116. 5.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th. 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. Finally, Evercore set a $20.00 price objective on shares of NovoCure in a 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 given a Sell rating to the stock. According to MarketBeat, the stock currently 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.