Semanteon Capital Management LP Takes Position in NovoCure Limited (NASDAQ:NVCR)

Semanteon Capital Management LP purchased a new stake in NovoCure Limited (NASDAQ:NVCR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 48,975 shares of the medical equipment provider’s stock, valued at approximately $731,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. acquired a new stake in shares of NovoCure in the third quarter valued at about $26,000. China Universal Asset Management Co. Ltd. grew its position in NovoCure by 96.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 1,347 shares in the last quarter. CWM LLC grew its position in NovoCure by 127.9% during the third quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 2,184 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in NovoCure during the third quarter worth about $74,000. Finally, Acadian Asset Management LLC acquired a new stake in NovoCure during the third quarter worth about $85,000. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Price Performance

Shares of NASDAQ:NVCR traded up $0.40 during trading on Friday, reaching $12.64. The stock had a trading volume of 761,583 shares, compared to its average volume of 1,337,344. NovoCure Limited has a 52 week low of $10.87 and a 52 week high of $83.60. The business’s 50-day moving average price is $14.49 and its 200 day moving average price is $13.92. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The company had revenue of $133.80 million during the quarter, compared to analysts’ expectations of $133.80 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. NovoCure’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that NovoCure Limited will post -1.78 EPS for the current fiscal year.

Insider Activity

In other news, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the transaction, the executive vice president now owns 162,617 shares in the company, valued at $2,624,638.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Frank X. Leonard sold 2,078 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the sale, the executive vice president now owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $33,775.21. Following the completion of the sale, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,921 shares of company stock worth $127,161. Insiders own 5.67% of the company’s stock.

Analysts Set New Price Targets

NVCR has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. HC Wainwright lifted their target price on NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their target price on NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Evercore ISI raised their price target on shares of NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a research note on Friday, February 23rd. Finally, Wedbush restated a “neutral” rating and set a $21.00 price target on shares of NovoCure in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.13.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.