NovoCure (NASDAQ:NVCR) COO Mukund Paravasthu Sells 43,246 Shares

NovoCure Limited (NASDAQ:NVCR) COO Mukund Paravasthu sold 43,246 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $13.77, for a total transaction of $595,497.42. Following the completion of the transaction, the chief operating officer directly owned 72,832 shares in the company, valued at approximately $1,002,896.64. This represents a 37.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mukund Paravasthu also recently made the following trade(s):

• On Wednesday, March 4th, Mukund Paravasthu sold 5,377 shares of NovoCure stock. The stock was sold at an average price of $13.31, for a total value of $71,567.87.

NovoCure Stock Performance

Shares of NovoCure stock traded up $0.81 on Thursday, hitting $14.23. The stock had a trading volume of 2,315,394 shares, compared to its average volume of 2,231,897. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -11.66 and a beta of 0.71. The company has a quick ratio of 1.50, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $21.55. The business’s 50 day moving average is $12.73 and its two-hundred day moving average is $12.70.

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

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kera Capital Partners Inc. increased its position in NovoCure by 84.4% during the 4th quarter. Kera Capital Partners Inc. now owns 19,691 shares of the medical equipment provider’s stock worth $244,000 after purchasing an additional 9,015 shares in the last quarter. Corient Private Wealth LLC boosted its position in NovoCure by 178.0% in the fourth quarter. Corient Private Wealth LLC now owns 97,368 shares of the medical equipment provider’s stock valued at $1,259,000 after buying an additional 62,341 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of NovoCure by 14.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 32,660 shares of the medical equipment provider’s stock worth $422,000 after buying an additional 4,124 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of NovoCure during the fourth quarter worth $33,000. Finally, XTX Topco Ltd increased its holdings in shares of NovoCure by 159.2% during the fourth quarter. XTX Topco Ltd now owns 58,795 shares of the medical equipment provider’s stock worth $760,000 after buying an additional 36,111 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on NVCR shares. Wedbush reaffirmed a “neutral” rating and set a $18.00 target price on shares of NovoCure in a report on Thursday, January 15th. Evercore set a $20.00 price objective on shares of NovoCure in a research note on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Finally, HC Wainwright upped their price target on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.93.

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.