NovoCure Limited (NVCR) Position Lifted by Rhumbline Advisers
Rhumbline Advisers increased its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 20.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,094 shares of the medical equipment provider’s stock after acquiring an additional 11,056 shares during the quarter. Rhumbline Advisers owned about 0.07% of NovoCure Limited worth $1,126,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of NVCR. Vanguard Group Inc. increased its holdings in shares of NovoCure Limited by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock worth $24,688,000 after acquiring an additional 325,512 shares during the last quarter. C WorldWide Group Holding A S acquired a new position in shares of NovoCure Limited during the 2nd quarter worth approximately $4,733,000. River & Mercantile Asset Management LLP acquired a new position in shares of NovoCure Limited during the 1st quarter worth approximately $937,000. Russell Investments Group Ltd. acquired a new position in shares of NovoCure Limited during the 2nd quarter worth approximately $362,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of NovoCure Limited by 23.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,000 shares of the medical equipment provider’s stock worth $1,679,000 after acquiring an additional 18,400 shares during the last quarter. 36.84% of the stock is currently owned by institutional investors and hedge funds.
In other NovoCure Limited news, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $17.35, for a total value of $18,608,430.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Asaf Danziger sold 35,500 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $22.01, for a total value of $781,355.00. Following the completion of the sale, the chief executive officer now directly owns 776,862 shares of the company’s stock, valued at $17,098,732.62. The disclosure for this sale can be found here. Insiders sold 1,742,272 shares of company stock valued at $31,033,300 over the last three months. Company insiders own 16.70% of the company’s stock.
NovoCure Limited (NASDAQ:NVCR) opened at 21.50 on Friday. The firm has a 50-day moving average price of $19.72 and a 200-day moving average price of $14.71. The firm’s market capitalization is $1.91 billion. NovoCure Limited has a one year low of $5.95 and a one year high of $22.30.
NovoCure Limited (NASDAQ:NVCR) last released its earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). NovoCure Limited had a negative return on equity of 69.48% and a negative net margin of 75.91%. The firm had revenue of $38.38 million during the quarter, compared to analysts’ expectations of $42.20 million. Analysts expect that NovoCure Limited will post ($0.77) EPS for the current year.
A number of research firms recently weighed in on NVCR. Deutsche Bank AG reissued a “hold” rating and set a $19.00 target price (up from $18.00) on shares of NovoCure Limited in a report on Monday, July 17th. Zacks Investment Research lowered NovoCure Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. BidaskClub raised NovoCure Limited from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Mizuho began coverage on NovoCure Limited in a report on Wednesday, September 6th. They set a “buy” rating and a $25.00 target price on the stock. Finally, ValuEngine raised NovoCure Limited from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. NovoCure Limited has an average rating of “Buy” and an average price target of $20.00.
NovoCure Limited Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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