120,978 Shares in NovoCure Limited $NVCR Bought by Eversept Partners LP

Eversept Partners LP purchased a new position in NovoCure Limited (NASDAQ:NVCR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 120,978 shares of the medical equipment provider’s stock, valued at approximately $1,564,000. Eversept Partners LP owned about 0.11% of NovoCure as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NVCR. Vanguard Group Inc. increased its stake in NovoCure by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after acquiring an additional 502,368 shares during the last quarter. Soleus Capital Management L.P. increased its stake in 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 last quarter. Morgan Stanley increased its stake in NovoCure by 453.4% during the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after acquiring an additional 4,153,741 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in NovoCure by 38.8% during the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after acquiring an additional 634,925 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of NovoCure by 29.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,387,754 shares of the medical equipment provider’s stock worth $17,944,000 after purchasing an additional 314,900 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

NVCR has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Wedbush restated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a report on Thursday, April 16th. HC Wainwright raised 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 restated an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Finally, Weiss Ratings upgraded NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NovoCure has a consensus rating of “Hold” and a consensus price target of $27.29.

NovoCure Stock Performance

NVCR stock opened at $17.85 on Thursday. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -11.67 and a beta of 0.93. The firm has a 50-day simple moving average of $15.46 and a two-hundred day simple moving average of $13.53. NovoCure Limited has a one year low of $9.82 and a one year high of $18.92. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The firm had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) earnings per share. On average, equities analysts forecast that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Insider Activity

In other NovoCure news, Director Timothy J. Scannell sold 2,945 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the sale, the director directly owned 14,288 shares in the company, valued at approximately $225,321.76. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Allyson J. Ocean sold 2,945 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the sale, the director owned 11,324 shares of the company’s stock, valued at approximately $178,579.48. This trade represents a 20.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 51,943 shares of company stock worth $893,171 over the last quarter. Company insiders own 5.52% of the company’s stock.

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.