Cinctive Capital Management LP bought a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 109,812 shares of the medical equipment provider's stock, valued at approximately $3,272,000. Cinctive Capital Management LP owned 0.10% of NovoCure at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares in the last quarter. Versant Capital Management Inc increased its position in NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after acquiring an additional 880 shares during the period. Lindbrook Capital LLC increased its position in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after acquiring an additional 1,213 shares during the period. Nisa Investment Advisors LLC raised its stake in NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock worth $129,000 after purchasing an additional 1,575 shares in the last quarter. Finally, KBC Group NV boosted its holdings in NovoCure by 65.1% in the 4th quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider's stock valued at $152,000 after purchasing an additional 2,008 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.
NovoCure Price Performance
Shares of NVCR stock traded down $0.77 during trading hours on Tuesday, reaching $15.85. The company's stock had a trading volume of 178,972 shares, compared to its average volume of 1,187,273. NovoCure Limited has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The firm's 50 day simple moving average is $20.62 and its 200-day simple moving average is $21.65. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -11.34 and a beta of 0.65.
NovoCure (NASDAQ:NVCR - Get Free Report) last issued its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.27). The firm had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Sell-side analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on NVCR shares. Wedbush reiterated a "neutral" rating and issued a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Piper Sandler upped their target price on NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Finally, StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.80.
View Our Latest Analysis on NVCR
About NovoCure
(
Free Report)
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.
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