Gabriel Leung Sells 2,945 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) Director Gabriel Leung sold 2,945 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director directly owned 20,465 shares of the company’s stock, valued at approximately $322,733.05. This trade represents a 12.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Stock Up 11.4%

NVCR opened at $17.99 on Friday. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $19.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90. The company has a fifty day moving average of $14.29 and a two-hundred day moving average of $13.19. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -11.76 and a beta of 0.93.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same period in the previous year, the firm posted ($0.31) EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that NovoCure Limited will post -1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a report on Thursday, April 16th. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Finally, HC Wainwright lifted their price objective on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.29.

Institutional Trading of NovoCure

Several institutional investors have recently modified their holdings of NVCR. Quantbot Technologies LP boosted its position in NovoCure by 163.6% during the third quarter. Quantbot Technologies LP now owns 195,515 shares of the medical equipment provider’s stock worth $2,526,000 after acquiring an additional 121,354 shares during the last quarter. Algert Global LLC boosted its position in NovoCure by 372.2% during the third quarter. Algert Global LLC now owns 682,858 shares of the medical equipment provider’s stock worth $8,823,000 after acquiring an additional 538,235 shares during the last quarter. JPMorgan Chase & Co. boosted its position in NovoCure by 104.2% during the third quarter. JPMorgan Chase & Co. now owns 282,184 shares of the medical equipment provider’s stock worth $3,646,000 after acquiring an additional 144,024 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in NovoCure by 140.6% during the third quarter. Tudor Investment Corp ET AL now owns 606,070 shares of the medical equipment provider’s stock worth $7,830,000 after acquiring an additional 354,216 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in NovoCure by 18.3% during the third quarter. American Century Companies Inc. now owns 1,218,807 shares of the medical equipment provider’s stock worth $15,747,000 after acquiring an additional 188,933 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

About NovoCure

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.