NovoCure Limited $NVCR Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of NovoCure Limited (NASDAQ:NVCR) by 66.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 32,993 shares of the medical equipment provider’s stock after selling 66,602 shares during the period. New York State Common Retirement Fund’s holdings in NovoCure were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. SJS Investment Consulting Inc. purchased a new stake in NovoCure during the third quarter valued at about $41,000. Acadian Asset Management LLC purchased a new position in shares of NovoCure during the 1st quarter valued at $87,000. Headlands Technologies LLC purchased a new stake in shares of NovoCure during the second quarter worth $88,000. AdvisorNet Financial Inc boosted its position in NovoCure by 137.7% during the third quarter. AdvisorNet Financial Inc now owns 9,700 shares of the medical equipment provider’s stock valued at $125,000 after purchasing an additional 5,619 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in NovoCure in the second quarter worth approximately $129,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVCR. JPMorgan Chase & Co. decreased their price objective on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, October 27th. HC Wainwright reduced their price objective on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Evercore set a $20.00 target price on shares of NovoCure in a research report on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Finally, Wedbush reiterated a “neutral” rating and set a $18.00 price target on shares of NovoCure in a report on Thursday, January 15th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NovoCure has an average rating of “Hold” and an average target price of $25.50.

NovoCure Price Performance

Shares of NovoCure stock opened at $10.50 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 1.55. The firm has a market cap of $1.18 billion, a P/E ratio of -6.52 and a beta of 0.73. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $22.95. The firm’s 50-day simple moving average is $12.88 and its 200-day simple moving average is $12.60.

NovoCure Profile

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.