Semanteon Capital Management LP Reduces Stake in NovoCure Limited (NASDAQ:NVCR)

Semanteon Capital Management LP trimmed its position in NovoCure Limited (NASDAQ:NVCR - Free Report) by 82.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,276 shares of the medical equipment provider's stock after selling 60,453 shares during the quarter. Semanteon Capital Management LP's holdings in NovoCure were worth $396,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NVCR. Blue Trust Inc. increased its stake in 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 acquiring an additional 781 shares during the last quarter. Versant Capital Management Inc increased its position in shares of NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after purchasing an additional 880 shares during the last quarter. Lindbrook Capital LLC raised its holdings in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after buying an additional 1,213 shares during the period. Nisa Investment Advisors LLC lifted its position in NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after buying an additional 1,575 shares during the last quarter. Finally, KBC Group NV boosted its stake in NovoCure by 65.1% during the fourth quarter. KBC Group NV now owns 5,091 shares of the medical equipment provider's stock worth $152,000 after buying an additional 2,008 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Wedbush reiterated a "neutral" rating and issued a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. Finally, StockNews.com upgraded NovoCure from a "sell" rating to a "hold" rating in a report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.80.

NovoCure Stock Down 1.8 %

NASDAQ:NVCR traded down $0.33 during midday trading on Wednesday, reaching $18.44. The company had a trading volume of 479,959 shares, compared to its average volume of 1,236,996. NovoCure Limited has a 12-month low of $11.70 and a 12-month high of $34.13. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.17 and a beta of 0.63. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock's fifty day simple moving average is $22.17 and its 200-day simple moving average is $21.64.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.27). The company had revenue of $161.27 million for 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%. On average, sell-side analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

NovoCure Profile

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.