NovoCure Limited (NASDAQ:NVCR) Short Interest Update

NovoCure Limited (NASDAQ:NVCR) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 8,333,839 shares, a growth of 20.0% from the December 15th total of 6,943,501 shares. Approximately 7.9% of the company’s stock are short sold. Based on an average daily volume of 1,066,364 shares, the short-interest ratio is presently 7.8 days. Based on an average daily volume of 1,066,364 shares, the short-interest ratio is presently 7.8 days. Approximately 7.9% of the company’s stock are short sold.

Analyst Ratings Changes

NVCR has been the topic of several research reports. Wedbush restated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a research note on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research report on Wednesday, October 8th. Evercore ISI set a $20.00 price objective on shares of NovoCure in a report on Monday, January 5th. HC Wainwright dropped their target price on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.50.

NovoCure Stock Performance

NASDAQ:NVCR traded down $0.16 during mid-day trading on Monday, hitting $13.64. The stock had a trading volume of 792,008 shares, compared to its average volume of 1,060,595. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $12.77 and a 200-day simple moving average of $13.13. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -8.47 and a beta of 0.73. NovoCure has a 52 week low of $10.70 and a 52 week high of $27.47.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $167.20 million for the quarter, compared to analyst estimates of $158.81 million. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. NovoCure’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.28) earnings per share. On average, research analysts expect that NovoCure will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of institutional investors have recently added to or reduced their stakes in NVCR. Soleus Capital Management L.P. increased its position in shares of NovoCure by 25.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after purchasing an additional 1,382,888 shares during the period. American Century Companies Inc. boosted its stake in NovoCure by 1,354.7% during the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock valued at $18,332,000 after buying an additional 959,079 shares in the last quarter. Millennium Management LLC raised its position in NovoCure by 106.5% in the third quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock worth $17,255,000 after acquiring an additional 688,710 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in NovoCure by 38.8% in the 2nd 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 acquiring an additional 634,925 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in NovoCure by 2,063.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 565,763 shares of the medical equipment provider’s stock valued at $7,310,000 after acquiring an additional 539,609 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Company 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.