NovoCure Limited (NASDAQ:NVCR) Shares Purchased by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC boosted its stake in shares of NovoCure Limited (NASDAQ:NVCR) by 22.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,950 shares of the medical equipment provider’s stock after buying an additional 4,597 shares during the period. Alpha DNA Investment Management LLC’s holdings in NovoCure were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVCR. Vanguard Group Inc. raised its holdings in shares of NovoCure by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after buying an additional 264,883 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of NovoCure by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock valued at $37,184,000 after buying an additional 125,715 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of NovoCure by 305.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 475,226 shares of the medical equipment provider’s stock valued at $7,428,000 after buying an additional 358,062 shares during the period. Tidal Investments LLC purchased a new stake in shares of NovoCure in the 1st quarter valued at $695,000. Finally, Versant Capital Management Inc raised its holdings in shares of NovoCure by 2,917.0% in the 2nd quarter. Versant Capital Management Inc now owns 3,017 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 2,917 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $17.73 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure Limited has a 52-week low of $11.29 and a 52-week high of $24.74. The business has a 50-day moving average price of $16.50 and a 200 day moving average price of $18.36.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.46) EPS. Equities analysts predict that NovoCure Limited will post -1.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore ISI cut their price target on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of NovoCure in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.17.

About NovoCure

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.