NovoCure Limited $NVCR Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its position in NovoCure Limited (NASDAQ:NVCR) by 905.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 278,806 shares of the medical equipment provider’s stock after acquiring an additional 251,082 shares during the period. SG Americas Securities LLC’s holdings in NovoCure were worth $3,605,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Soleus Capital Management L.P. increased its stake in shares of NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after acquiring an additional 1,382,888 shares during the period. Balyasny Asset Management L.P. lifted its position in NovoCure by 38.8% in the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after purchasing an additional 634,925 shares during the period. Quantinno Capital Management LP lifted its position in NovoCure by 38.5% in the second quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock valued at $24,362,000 after purchasing an additional 380,411 shares during the period. Millennium Management LLC boosted its holdings in NovoCure by 106.5% in the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after purchasing an additional 688,710 shares in the last quarter. Finally, Palo Alto Investors LP increased its position in NovoCure by 30.5% during the 3rd quarter. Palo Alto Investors LP now owns 1,256,159 shares of the medical equipment provider’s stock worth $16,230,000 after purchasing an additional 293,763 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Insider Buying and Selling

In other news, CEO Frank X. Leonard sold 5,607 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total value of $74,629.17. Following the completion of the transaction, the chief executive officer owned 493,793 shares in the company, valued at $6,572,384.83. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mukund Paravasthu sold 43,246 shares of NovoCure stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total value of $595,497.42. Following the transaction, the chief operating officer directly owned 72,832 shares of the company’s stock, valued at $1,002,896.64. This trade represents a 37.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 140,041 shares of company stock valued at $1,860,116 in the last three months. 5.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NVCR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. HC Wainwright upped their price objective on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Evercore set a $20.00 target price on NovoCure in a report on Monday, January 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.93.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $10.55 on Friday. The business’s 50 day simple moving average is $11.99 and its 200-day simple moving average is $12.66. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 2.71. NovoCure Limited has a 12 month low of $9.82 and a 12 month high of $20.06.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.19. The firm had revenue of $174.35 million during the quarter, compared to the consensus estimate of $174.40 million. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.NovoCure’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted ($0.61) EPS. As a group, equities analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

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.