Yoram Palti Sells 30,000 Shares of NovoCure Limited (NVCR) Stock
NovoCure Limited (NASDAQ:NVCR) insider Yoram Palti sold 30,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $17.13, for a total transaction of $513,900.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Yoram Palti also recently made the following trade(s):
- On Thursday, November 9th, Yoram Palti sold 30,000 shares of NovoCure Limited stock. The stock was sold at an average price of $18.25, for a total transaction of $547,500.00.
- On Tuesday, November 7th, Yoram Palti sold 60,000 shares of NovoCure Limited stock. The stock was sold at an average price of $21.06, for a total transaction of $1,263,600.00.
- On Thursday, November 2nd, Yoram Palti sold 30,000 shares of NovoCure Limited stock. The stock was sold at an average price of $21.78, for a total transaction of $653,400.00.
NovoCure Limited (NVCR) opened at $18.20 on Thursday. NovoCure Limited has a 1-year low of $6.00 and a 1-year high of $22.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30.
NovoCure Limited (NASDAQ:NVCR) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.07. NovoCure Limited had a negative net margin of 47.45% and a negative return on equity of 57.68%. The company had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $43.45 million. During the same period last year, the company posted ($0.39) earnings per share. The firm’s quarterly revenue was up 130.9% compared to the same quarter last year. sell-side analysts expect that NovoCure Limited will post -0.63 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the business. Bank of Montreal Can increased its holdings in NovoCure Limited by 1,919.7% in the second quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 6,719 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in NovoCure Limited by 792.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock valued at $125,000 after buying an additional 6,419 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in NovoCure Limited in the second quarter valued at about $126,000. Trexquant Investment LP purchased a new position in NovoCure Limited in the third quarter valued at about $212,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of NovoCure Limited during the 2nd quarter worth approximately $225,000. 36.21% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of NovoCure Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of NovoCure Limited from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Wedbush reiterated an “outperform” rating and set a $25.00 target price (down previously from $29.00) on shares of NovoCure Limited in a research note on Friday, October 27th. Finally, Mizuho initiated coverage on shares of NovoCure Limited in a research report on Wednesday, September 6th. They issued a “buy” rating and a $25.00 price objective for the company. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.00.
NovoCure Limited Company 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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