NovoCure (NASDAQ:NVCR) CFO Sells $85,343.72 in Stock

NovoCure Limited (NASDAQ:NVCR) CFO Christoph Brackmann sold 6,412 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were 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 approximately $2,433,627.02. This represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NovoCure Stock Up 6.0%

Shares of NVCR traded up $0.81 during mid-day trading on Thursday, reaching $14.23. 2,315,394 shares of the stock traded hands, compared to its average volume of 2,231,897. The stock has a fifty day simple moving average of $12.73 and a 200 day simple moving average of $12.70. NovoCure Limited has a 12-month low of $9.82 and a 12-month high of $21.55. The company has a quick ratio of 1.50, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -11.66 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.19. The firm 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%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.61) EPS. Sell-side analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVCR. AQR Capital Management LLC raised its position in shares of NovoCure by 56.7% during the first quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 10,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NovoCure by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of NovoCure by 5.5% in the first quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after acquiring an additional 52,180 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of NovoCure during the first quarter valued at approximately $87,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of NovoCure in the 2nd quarter valued at approximately $361,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVCR shares. HC Wainwright raised their price target on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wedbush reiterated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research note on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Finally, Evercore set a $20.00 target price on NovoCure in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NovoCure presently has an average rating of “Hold” and an average target price of $26.93.

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.