Alliancebernstein L.P. reduced its stake in NovoCure Limited (NASDAQ:NVCR) by 7.8% during the first quarter, Holdings Channel reports. The institutional investor owned 58,700 shares of the medical equipment provider’s stock after selling 5,000 shares during the period. Alliancebernstein L.P.’s holdings in NovoCure Limited were worth $475,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Wedbush Securities Inc. bought a new stake in NovoCure Limited during the first quarter valued at approximately $381,000. Teachers Advisors LLC boosted its stake in NovoCure Limited by 21.2% in the fourth quarter. Teachers Advisors LLC now owns 95,674 shares of the medical equipment provider’s stock valued at $751,000 after buying an additional 16,741 shares in the last quarter. Macquarie Group Ltd. boosted its stake in NovoCure Limited by 18.4% in the fourth quarter. Macquarie Group Ltd. now owns 98,087 shares of the medical equipment provider’s stock valued at $770,000 after buying an additional 15,218 shares in the last quarter. Creative Planning boosted its stake in NovoCure Limited by 32.1% in the first quarter. Creative Planning now owns 16,857 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 4,100 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in NovoCure Limited by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 173,523 shares of the medical equipment provider’s stock valued at $1,406,000 after buying an additional 2,480 shares in the last quarter. 24.96% of the stock is owned by hedge funds and other institutional investors.

NovoCure Limited (NASDAQ:NVCR) opened at 20.05 on Thursday. The stock’s market capitalization is $1.78 billion. The company’s 50-day moving average is $18.60 and its 200-day moving average is $12.07. NovoCure Limited has a 12 month low of $5.95 and a 12 month high of $21.75.

NovoCure Limited (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. The company had revenue of $38.38 million during the quarter, compared to analysts’ expectations of $42.20 million. NovoCure Limited had a negative net margin of 75.91% and a negative return on equity of 69.48%. Equities research analysts forecast that NovoCure Limited will post ($0.75) EPS for the current year.

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Several equities research analysts have recently commented on NVCR shares. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $14.00 target price on shares of NovoCure Limited in a research report on Monday, May 1st. Aegis reaffirmed a “buy” rating and issued a $14.00 target price on shares of NovoCure Limited in a research report on Tuesday, April 18th. Zacks Investment Research cut shares of NovoCure Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Wells Fargo & Company raised shares of NovoCure Limited from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Wednesday, May 24th. Finally, ValuEngine raised shares of NovoCure Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.29.

In related news, insider Yoram Palti sold 8,000 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $11.79, for a total value of $94,320.00. Following the completion of the transaction, the insider now directly owns 63,825 shares of the company’s stock, valued at approximately $752,496.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Asaf Danziger sold 180,601 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $15.13, for a total transaction of $2,732,493.13. Following the completion of the transaction, the chief executive officer now directly owns 1,163,296 shares of the company’s stock, valued at $17,600,668.48. The disclosure for this sale can be found here. Insiders sold a total of 2,281,522 shares of company stock valued at $38,664,492 over the last ninety days. 16.70% of the stock is currently owned by insiders.

NovoCure Limited Company Profile

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

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Institutional Ownership by Quarter for NovoCure Limited (NASDAQ:NVCR)

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