Fox Run Management L.L.C. Increases Stake in NovoCure Limited $NVCR

by · The Markets Daily

Fox Run Management L.L.C. boosted its stake in NovoCure Limited (NASDAQ:NVCR – Free Report) by 112.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,405 shares of the medical equipment provider’s stock after purchasing an additional 52,587 shares during the period. Fox Run Management L.L.C.’s holdings in NovoCure were worth $1,285,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NVCR. AQR Capital Management LLC increased its stake in NovoCure by 56.7% in the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 10,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NovoCure by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock worth $1,336,000 after purchasing an additional 2,502 shares during the period. Goldman Sachs Group Inc. increased its stake in NovoCure by 5.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after purchasing an additional 52,180 shares during the period. Acadian Asset Management LLC purchased a new position in NovoCure in the 1st quarter worth approximately $87,000. Finally, Prudential Financial Inc. purchased a new position in NovoCure in the 2nd quarter worth approximately $216,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NovoCure

In other NovoCure news, Director W Anthony Vernon sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 197,657 shares of the company’s stock, valued at approximately $3,117,050.89. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Frank X. Leonard sold 34,273 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.93, for a total value of $614,514.89. Following the completion of the sale, the chief executive officer directly owned 459,520 shares in the company, valued at approximately $8,239,193.60. This represents a 6.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 51,943 shares of company stock valued at $893,171 over the last ninety days. Insiders own 5.52% of the company’s stock.

NovoCure Trading Up 2.3%

NASDAQ NVCR opened at $17.24 on Wednesday. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $19.25. The firm has a market capitalization of $2.00 billion, a PE ratio of -11.27 and a beta of 0.93. The stock’s 50 day moving average is $14.63 and its 200 day moving average is $13.31.

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research note on Thursday, April 16th. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. HC Wainwright lifted their price target on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings upgraded NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Finally, Wells Fargo & Company lifted their price objective on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.29.

View Our Latest Stock Analysis on NVCR

NovoCure Company Profile

(Free Report)

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.

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